Tool libraries are libraries, not rentals.
So no, they aren't saying renting is the same thing as a library. They are saying libraries offering more services are a great way for you to save money by not buying a tool you only need once or for a day here and there over the years.
That's fair, I'd agree the article does a terrible job of differentiating, and a company calling itself a library in it's name doesn't make it a library, just a rental service playing pretend for profit.