Besides it still wouldn't stop you from trying to trade the disc in.. Because stores wouldn't have the ability to verify the data is still on the disc
This is something Microsoft attempted to do with the xboxone.. But failed when customers realized the cost of having this ability.. If you want to be able to do this then you will need to sacrifice the ability to sell the game when your done with it..
And the majority of customers don't want to give up that right as it was made clear at e3 when Microsoft fully revealed their plans for the xboxone..
The only way to make it work is have a license tied to the game (DRM) with an option to relenquish the license so you can either sell or let someone borrow the game. That's kind of what Microsoft wanted to do but everyone hated and they 180* that decision.
I could imagine the "Help my freind borrowed my Call of Duty and now won't relenquish the code" threads.
Either way, for this generation if you want to remote play your library then you are going to have to buy digital or just make sure you leave the game you plan to play in your PS4. They have to know you still have the game and didn't let a freind have it or sold it to GameStop.
Another option would be to have a digital version sellable in a one time use disc.
As in a full Retail copy and another install disc copy, you install the game, enter a code in the store to unlock the game for your account, now the disc and code are usless.
This option would be for those that don't have great internet or they have internet caps and won't have to download 25-30GB files.
(Again, very similar to what Microsoft wanted to do with the XBO)