Reminder that you do not own digital games
That is not universally true. On GOG for example you can download all your games, so things like this could not happen there. Sure, you still technically purchase a license and do not actually buy the games, but for all intents and purposes this is still the closest you get to actually owning the games.
That's why I mentioned that you purchase a license. That has also always been true even if you "bought" a game as a physical copy in a store. A DRM-free game is still the closest thing you get to owning a game.
I have heard this argument before, but I really don't get it. Of course you could lose your files if you don't download them. I'd say that's so obvious it isn't even worth mentioning. If you lose or destroy your physical copy of a game you also lose access to it. Pretty obvious.