The analogy appears to make sense but it doesn't work perfectly. For the sake of simplicity, we'll leave labor out since it doesn't factor in until post print.
If what we're 'renting' in an 'empty tray scenario' is a portion of the cost to run the machine + degraded powder (let's compare this to renting an apartment but never using any utilities) then we're being charged for 'renting' that space because someone else can't use it, in essence. Using utilities in an apartment scenario costs extra money because additional resources not local to the apartment are being used as well.
But in the 3d printing scenario, any materials (utilities) being used are not additional; they occupy a portion of the space we're already renting, and the extra costs are due to the state of the powder once the printing is done. It's used powder vs. unused powder. But instead we're being charged for the unused powder twice. In other words, machine costs should cover cost to run the machine + degraded powder, not cost to run the machine + degraded powder + used powder - that third item is already covered by the material cost. Instead of swapping out degraded powder with used powder, they're simply tacking on the price of used powder and taking nothing away from the cost of degraded powder, which is what is actually happening during the print.
If we imagine a theoretical scenario where the unused powder is 100% reusable then we would incur only our share of the cost to run the machine, would we not? And that cost would be exactly proportionate to the space our model's physical 'boundaries' occupy. Add in the cost of powder that is degraded after the print due to the space our model occupies, since that's how it actually is, then we incur that cost. Wouldn't it make sense then to replace the volume of powder that, instead of being degraded, is used in the actual form of the model, charge us more since the powder isn't being reused, and call it a day? But instead, they simply tack on the cost of the material, keeping the cost of the original unused space.
And now that I think about it, labor makes more sense as a comparison to utilities than material cost since it actually IS an additional resource to the process. Those additional costs make perfect sense to me, but not the duplicating of machine costs.