The price per read (most people don't re-read most books they buy... if they even read them through once) is dramatically lower even for ebooks which have separate licensing. In the case of printed books, because the right of first sale keeps primary and wholesale markets roughly in line between readers buying retail and libraries buying retail, the price per read is even lower... propped up only due to the incidental problem of books wearing out on average after 10-20 loan-outs. If people took better care of physical library books, the price per read would approach zero.
Perhaps more importantly, the cost of books in libraries is not assigned based on the number of books checked out or read. It tends to be people in lower and lower-middle economic classes who use libraries more, even while they pay less than the per-capita average cost to keep those libraries running and their shelves stocked.
Libraries are communist entities. Even worse than that, from a capitalist perspective, although checking out books requires you to be connected with the tax base or funding source for the library, you can generally go to any public or academic library and read books on-site even if you're from another country or planet and aren't entitled to check anything out.