Speaking of revoked licenses I am reading about lawsuits filed against sites that offer movies we can ‘buy’ but in effect are actually longterm rentals for the reason you mention. The suits are alleging false advertising. If you purchase a DVD the production company can’t revoke your license and make the DVD nonfunctional, but they can if you purchased a digital version from a site like Apple TV, Amazon Prime, Fandango, etc?
But directly to the question asked by the OP I also ‘purchased’ Kingdom of Heaven (Directors Cut) from Apple a couple of years ago. I just pulled it up and it plays without issue so I wonder if the OP ‘purchased’ it under a different Apple Account instead.
Great movie by the way!
https://www.newsweek.com/amazon-facing-lawsuit-over-prime-video-movie-purchases-2120882
The OP wanted to know of they could sue. The answer is yes and such a suit has already been filed. Winniing such a lawsuit is another matter. We’ll see how this goes through the courts.