In section 3 of ISO 9001:2008 we find this: "Throughout the text of this International Standard, wherever the term 'product' occurs, it can also mean 'service'."
Therein lies the problem: our TC176 friends failed (imo) in not understanding that there are, for the purposes of the general requirements, significant distinctions between palpable products and services for which no palpable product exists. You can't just say that "product" and "service" are synonymous and let it go at that, as this thread attests.
It seems to me that "preservation of product" should rightly be construed to apply to palpable things--protecting product from conditions and acts that will cause deterioration or some form of nonconformity. To say that services must be preserved or protected in the same manner as palpable things is, I think, an error caused by a fault in the standard.
In the present case, if 7.5.5 didn't exist, there would still be a requirement for the service provider to provide conforming services, so it shouldn't make any difference whatsoever if the clause were excluded. It's a different story with palpable products, where storage, identification, protection from damage, etc. are important considerations.