there's things like "tool libraries" and it might be good to see more lending beyond books;

some of the libraries I've seen have morphed more into like makerspaces and/or meeting spaces rather than just places to get books

Tool libraries rock, i think this model could work really well for lots of things especially in big cities.

I am blessed with a huge apartment but even i have to make decisions about what tools to keep around given the space. Yeah i could buy something from harbor freight and use it once and donate to the thrift store, but how much better if my neighbors and i could just share a big collection of stuff we all might need once every year or two

There's at least one in Melbourne, Australia (near the CBD) too: https://www.brunswicktoollibrary.org