Exactly this. Today I can get a physical copy at release date for ~10 EUR cheaper than on the Playstation Store, then resell it for 3/4 of the price, or lend it to a friend easily.

Everything about digital-only is anti-consumer. Games will be more expensive with fewer and less important discount, the second-hand market will be dead, and so will be sharing games to friends so they can experience it for free.

Nintendo has implemented lending a digital game, but with arbitrary limits (you HAVE to be in physical proximity for the lending process, it lasts a maximum of two weeks, and you can lend 3 / borrow 1 game at a time). Sony and Microsoft don't let you do that.