Some of the language in the Cornell page implies to me it's specific to "preservation" copies, not necessarily other format-shifts for lending.
But the interactions of tradition, legal precedents, and different laws in different places are complicated, and subject to interpretation & various shifting balances-of-considerations!
That's why it's silly when armchair opinionators casually judge, "IA clearly did something wrong". There's a lot of room in the law for fair-use copying, even against the rightsholders' strongest wishes, and especially for librarylike activities.
But the interactions of tradition, legal precedents, and different laws in different places are complicated, and subject to interpretation & various shifting balances-of-considerations!
That's why it's silly when armchair opinionators casually judge, "IA clearly did something wrong". There's a lot of room in the law for fair-use copying, even against the rightsholders' strongest wishes, and especially for librarylike activities.