Delegations come with a 2 day cooldown which rentals do not. So while yes technically they could, I think there are other opportunity costs that would prevent it from being as appealing to renters. Who knows though, maybe people will pay a premium for delegation rentals that offset the 2 day down time.
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Rentals don't have any cooldown? I had the idea that they had but maybe it's less. Still, even a 2 days cooldown is easily less of a downside compared to a forced 14 days rental. I believe we could have a better system but that better system would take too many resources (I've explained in my other comment). I'd rather stay at 2 days than make it 14 days. Honestly any nerf to rentals means a nerf to owning unless it's something very subtle like a 1% penalty per rented card.