If physical games eventually go away, ultimately, there is going to have to be some new way they're managed other than being tied to someone's account. Because as it currently stands, if you own a thousand games and your account gets banned, you cannot play those games. That can't happen. It's essentially companies stealing back something you paid for. I suspect at some point this will make it to the courts like loot boxes did. Especially now with sensitivity culture, you could be playing a game online, let one F bomb go or something, or say something and you could have your entire catalogue of games worth thousands and thousands of dollars taken away from you. In no just world is that remotely legal.
This is not a problem with physical games. You get an account banned, you make another and pop the game disc in.