That's exactly how it is and always has been. And games on Game Pass usually have discounts if you want to actually purchase them. Nothing in Game Pass says you own the games, it explicitly makes it clear you do not... it still has a purchase button right next to the Play/Install button.

Game Pass means being able to give a ton of games a try or even play through entirely without having to purchase every single one. It also means a fairly steady stream of new titles to play.