Yes, many games implement that. More famously The Crew (which was mostly a singleplayer game with a large campaign with some multiplayer tacked on) became completely unplayable after Ubisoft shut down the multiplayer portion of the game due to always online DRM. They only later patched the game to become playable in singleplayer again after the extreme backlash from the SKG campaign, which focused on The Crew as an example.

There are many more singeplayer games either already killed, or currently at-risk of being destroyed. SKG keeps an up to date list of them here: https://stopkillinggames.wiki.gg/wiki/Dead_game_list