This is a natural direction for Sony Interactive Entertainment to adapt to consumer trends as the general preference for digital media significantly outpaces physical discs. This transition will enable us to align more closely with how most of our community prefers to access and play games today"

Corporate babble talk for you dont own anything anymore. Sony just deleted a bunch of movie libraries and now we should trust them not to do the same with video games - We decided you don’t own that anymore…

This has nothing to do with consumer trends, just company greed.