As long as I get to control the experience in the same way as I always did, I couldn't care less about ownership.
However, if we end up needing subscriptions for every single publisher because they all want their own thing, it's going to be quite painful.
This.
I don't need physical copies. By having games digitally only, at least my wife doesn't notive how many games I actually buy.
But not being able to play a game anytime I want or having to pay for multiple providers making video gaming an expensive hobby would really be terrible.