Unfortunately it's the slippery slope we are already on and sliding away. It will be interesting to see how things pan out in about 20 years. My guess is by then most physical media will be obsolete.
I remember the excitement of lining up to buy the latest CD, or game....no one does that anymore. No more midnight release parties, etc. I have over 500 CDs, hundreds of DVD/Blue-rays....and I can't remember the last time I put on a CD or played one of those movies. I have still have my Nintendo NES, Nintendo 64, 3D0, Playstation games going back to PS1.....all in boxes. Haven't look at them in over a decade. It's more for nostalgia for me than anything else. Streaming has changed everything. And I'm old....the younger generation with their propensity to instant gratification probably have gone all digital at this point, even gaming.
I also think with the amount of entertainment choices out there now, my attention gets diverted way too easily. For example, back in the day, I might play a game I liked for hundreds of hours....nowadays I find myself playing a game, finishing it, then moving on to the next one without doing a "deep dive" on the previous game like I would in the past. So services like Playstation Plus is perfect for me because I play all sorts of games now, and I never finish them usually, whereas 20 years ago if I bought a game, I would see it to the end. If, God forbid, a service would end, let's say Ubisoft goes into bankruptcy, well then, I would just move on to the next thing. In the meantime, I would have played, for example, Assasin's Creed 1-50, all the FarCrys, etc....games I would never have bought in the first place, but games I'm glad I got to play.
So it's a double-edged sword for sure. I guess I'm in the minority that isn't bothered that much anymore by gaming services, considering that's already happened to my movies and my music.