I think it would be fabulous that on deciding to get rid of a book the library archived it into their 'digital' collection by scanning it. Access could still be available at the library or on the library web site, but the book would not be taking up volume space in the 'physical' collection. They could then add a 'd' notation to the card catalog entry.
Is that uncontroversially legal? Considering that IIRC publishers want libraries to buy special digital rights, I have a feeling they might make some angry noises if they heard about a scheme like this.
It's controversially legal, at best, and probably isn't legal at all, at least in the US.
Internet Archive's Open Library project[0] was doing something like this, and may still be, though I no longer see information about this program on its website. Participating libraries would ship a book to IA/OL, who would then scan it and pack away the original so no one could have access to it. IA/OL uses Adobe DRM software to make a copy of the work available digitally, either directly or through its partner libraries, though to only one person at a time. I've written about this process within the larger context of ebooks and DRM here: http://www.inthelibrarywiththeleadpipe.org/2012/the-ebook-ca...
As I understand it, one of the precedents for Open Library's process was an allowance made for transitioning from legacy to supported platforms. If a library had an important work on a Betamax tape, and no one had Betamax players, it would be allowed to transfer that information to a VHS tape or a DVD or some other format that people could use, provided the library makes the original unavailable (IIRC, the library may even be expected to destroy the original), and only circulate the newly formatted copy with the restrictions that applied to the previous copy.
If you're interested in this topic and aren't a lawyer, I recommend Complete Copyright[1] by the American Library Association's Carrie Russell, along with anything by Mary Minnow[2].
I feel like it would be a good idea to have a law that says that if you failed to reprint a book for x years then it's okay for a library to digitize it forever, and allow it to be used by its patrons. This happens right now in some libraries, where you digitally "check out" a copy of an ebook, which theoretically limits supply and therefore limits the harm done on publishers.
Yes, all forms of IP should have a "use it or lose it" mechanism. Work the patent or lose it. Market and enforce the trademark or lose it. Keep the copyrighted work available or lose copyright protection.