With one minor difference.
You actually OWNED the disk/cartridge the game was on, and it came with a warranty.
...two, TWO minor differences.
On other words, there was legally enforceable accountability on the part of the manufacturer. These days not so much, because you don't own anything to hold as leverage, and software has always been full of warranty and liability disclaimers (even though I suspect many of them would not hold in a court of law).