If two guys and a basement can run the guild wars 1 servers for next to nothing (their words) than yes, company's very much could run their servers forever.
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Switch this meme with "people want video games they own" and it's this thread. There are still plenty of games you can self host: Palworld, Minecraft, Satisfactory, Factorio, Terraria, Space Engineers, Counter Strike 2, The Forest, ARMA III, 7 Days to Die, Rust, Valheim. The average person obviously doesn't care about self hosting their own game server.
They can connect to a server of those who do care about self hosting their own game server.
Getting back to the old status quo
If you want to make this a law, how would anyone handle this: https://www.youtube.com/watch?v=x3jMKeg9S-s&t=73
This argument holds true for developers of all sizes and is somehow totally ignored by most here.
It would be great if servers were just running in the background with an update
Maybe build a game server
It is already possible, but very time consuming and expensive. You need at least team of reverse engieneer and developer.