I doubt that leasing physical possession of a GPU makes much sense unless there's a serious market for secondhand GPUs. Then the leasing party can transfer the thing to someone else who wants it down the line, and you can derive benefit from that reuse. But that demand doesn't really exist today. Maybe if the rate of increase of performance on GPUs stagnates.

It can make sense to do something today like vast.ai, where one buys access to a remote GPU, if one has "bursty" needs. Like, maybe someone needs access to a high-end GPU for AI stuff, but only on a sporadic basis.