You will own nothing and be happy about it!
(media.kotakuinaction2.win)
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I do think that he's being scammed--the things he's renting aren't worth nearly as much as what he's paying, but I can agree with most of what you said tbh. It actually sounds kind of appealing to be able to drop everything you rent without hassle and be able to swap to a different service in a heartbeat due to how modular you are. Physically, he's almost totally unencumbered, which I can see why people would like.
It probably is that costly, given where he lives. There are probably waiting lists outside the door of people willing to pay for something that cheap for the area.
The scam is just how high cost of living on the West Coast is in general.