If Amazon were to try that on me, they had better be ready to refund the $$$$ I spent on Kindle books, Audible books, and movies. Considering how much I've spent, it would be well worth it to me to sue their arses off. (I've got hundreds upon hundreds of Audible books dating back to 1999 or 2000 -- long before Amazon bought Audible. And hundreds of Kindle books dating back to whenever the Kindle first came out, which I believe predates the iPad.)Keep in mind that if you for example get banned on Amazon for too many returns you will lose access to all your digital purchases.
I guess it's quite unlikely but still.
They did lock up my account many years ago because they correctly detected fraudulent activity. In that case, they refunded my Kindle books but it was a real pain to have to go back and rebuy them all.