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Valve compares its loot boxes to Labubus in lawsuit defense
(arstechnica.com)
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One potential difference is that you can play Diablo 2 as many times as you want.
So, its a lot less like inserting a coin to buy a chance at a capsule machine and a lot more like buying the whole machine. With every copy of the machine having the same capsules inside it. In your analogy you can say the previous owner already got a few capsules out, but you can also open the machine if you want and put them back inside, or change the machine's contents.