I'm really perplexed about that talk about MS "Owning my PC", unless it was on loan from MS, it's mine, lock, stock and barrel, I put it together and used cash (not even credit card) for every single part. I can use it or not, use any OS and even burn it if so inclined.
On the other hand, every time I connect to internet it's part of network with millions of other nodes, MS is just another one and everybody should understand it's same as taking an ad saying "Here's my data, come and get it if you can" .
As for "Hijacking" hardware , yes, that's possible and was/is happening all the time, from stealing data to using it to spread malware and lately to use for Coin mining. Those can also be called unlawful use, trespassing etc.
