Most of the "physical" media games are just launchers to download a copy anyway. Modern gaming outside of GOG or places that allow you download DRM free, fully offline functional games (at least for single player) are the only thing I would consider when thinking about whether you "own" the media. But the most popular methods for getting games through Xbox, Playstation, or PC (Steam, Epic, etc.) you only "own" it as long as the company continues to allow it.

I mean, even like 10 years ago when I bought a PS4 for Christmas for our kids, it was a pretty fucking disappointing Christmas Day because opening the console you have to update before you can use it, and none of the discs we bought were actually playable without gigs of downloads. I don't think anyone got to play anything until like 9pm that day.