I wouldn't mind having a paid membership in a library that carries O'Reilly's books and like. I would also probably try to convince my company to have one (and that would mean much bigger budget there). Most of such books are needed only for a relatively short periods of time and then sit there gathering dust for years. The library would be ideal for such things.
I don't say this would necessarily work, there are many problems with this idea that would need to be resolved, but on the face of it I don't see why it couldn't work.