I agree with the post above. I am from the Pong/ Atari 2600/ 70's LED era and love physical media... but, lets face it, developers hardly put half the effort into the box art they used to. Most manuals have shrunk to a few pages or have gone digital...
As much as I buck change... I really love having my entire game library at a fingers reach. Ready to be instantly accessed.
There are positives and negatives to everything... with this being, if you lose your system... or someone steals it... your entire library is theirs. There should be a way, on Sonys site, to track, lock and wipe your systems memory. That way, if a loss occurs... you can make sure the unit is unplayable. Locked remotely, by serial number. Making it useless for anyone who finds/ steals it.
Other than that... with everything being tied to your account and a backup sitting on your computer, via content manager, you will never lose a game or movie again. They will follow your account around for eternity.