I get that the 'Privileged' thing is total garbage, but you need to fully comprehend the legality of the situation before throwing words like "illegal" around.
QI isn't selling you a product here. They are selling you a service. Services and Products are two distinctly different things in the eyes of the law. Furthermore, what you are paying for is NOT the ownership of the chapters. You are given access to the chapters, which belong to QI.
Following your logic, massage parlors would also be illegal in the EU, since people regularly visit the same massage parlor.
This is sort of like how you do NOT own any games in your Steam Library when you buy them, but rather simply gain the access to installing and playing the games. Steam can very easily and justifiably delete someones account and all they had on it.
Tl;Dr: While this may be a mean-spirited bad system, QI is an international company that knows what they are doing. They don't pay lawyers a shit ton of money just to sit around and pick their nose.