Penguin Cuts off ebook Library Lending

WTF?

Penguin will no longer offer additional copies of eBooks and download audiobooks for library purchase. Additionally, Penguin eBooks loaned for reading on Kindle devices will need to be downloaded to a computer, then transferred to the device over USB. For library patrons, this means Penguin eBooks will no longer be available for over-the-air delivery to Kindle devices or to Kindle apps.

Translation: We want you to support us in the same way you have been for years, by buying buy our books, and purchasing physical copies for your libraries, because we just don’t want to change. We will encourage this behavior by making eBook lending as inconvenient as we can make it.

Benefit of the doubt; is Penguin just being a party pooper for no good reason, or is the Overdrive/Amazon lending model the Spotify of the publishing industry?