What’s the actual cost for chargebacks here? Presumably they are quite capable of revoking licenses to the purchased item. This is slightly hairier for in app purchases laundered through a game currency run by a third party, but still seems doable. Is there a reason the cost isn’t asymptotically close to 0 here?
In the worst case they stop allowing an account to make new purchases while keeping what they’ve bought. Is that an objectionable outcome?