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The $700 PS5 Pro doesn’t come with a disc drive
(www.theverge.com)
This is a most excellent place for technology news and articles.
And now, the physical licence path is even less accessible. The thing with the physical licence key is it's transferrable even if the actual data is stored elsewhere. It's a thin veneer, I mean, Sony could gate access to this data to the first account/machine that activated it. So even this advantage is taken away.
Some enterprise software used to (or maybe still do) use USB dongles for licensing... I'm honestly wondering if games are going to move that way too. Given the fact that practically every game needs a launch day patch, why even have a DVD/Blu-Ray if instead you could just have smaller, more reliable USB dongles? I suspect that in the next generation or two of game consoles, we'll no longer see discs at all.