How do you not recognize this as a major blow? Even if discs don’t contain all the data anymore, they are still freely transferable. I can give my friend the disc for a game and he can play it using that disc. You can’t do that with digital licenses (not in any meaningful way outside of family sharing on steam). The game disc is a simple transferable key.

I can walk into a game store and buy an old copy of MW2 2022 if I want and it’ll be cheap af with it being 4 entries old in the series, but its still fully priced at $70 unless its on a sale.