As for second-hand physical games, from PS4 onward, there's the chance that a lot of your discs might not work once support is dropped for those consoles as most of them are glorified license keys.

Nintendo made that concept literal with the Game-Key Cards and I wouldn't be surprised if the Switch 3 if one actually happens, dropped carts altogether, and the Switch 3 effectively become a glorified tablet that you lost access to your games on after support is discontinued because it's digital-only.

Even MS is playing with moving PCs to the cloud, and if Win365 takes off enough to get a consumer tier, it's game over for PC ownership.

The only thing that'll kill Sony as a company is if they have a CED-level screw-up as the CED was such a massive screw-up that it killed RCA as a company, and Sony has yet to screw up that badly. I make the RCA comparison because RCA in their prime, before their stupidity got the best of them, was basically in the position Sony is currently in with having their hands in basically everything. I really feel like Sony and other big companies for that matter, should treat RCA's demise and the CED debacle that caused it as a cautionary tale, but that's just my opinion.