This is the nightmare of digital "ownership," which is technically licensing. That not only will things be delisted but you will lose the ability to access stuff you paid for. For the most part this has been avoided in games by the major players. They understand how much trust will be eroded if they pull content people paid for, and while there have been notable exceptions where things have been pulled for redownload (it's not JUST P.T., which was at least free) the vast majority of content is still available. Even with the Wii store and Wii U/3DS stores closed (and the 360 store to close soon) you can still redownload content, and if you have the content stored on your device you can still use it even if you can't. There are, of course, stores that have closed permanently with no redownload, and Apple and Google routinely permanently pull old stuff from their storefronts entirely, but again if you have it downloaded you can use it.
You can point to always online games like Babylon's Fall where the servers have come down so even if you have the game client it is worthless, but at least there you have an idea that will eventually happen, and most companies try to avoid doing that for a long time. Famous flop Anthem is still playable.
Here you have video content that to my knowledge you could not download (or at least most people did not) being purged, presumably because Sony's licensing agreement was terrible and didn't account for the end of licenses (lots of stuff gets pulled from storefronts but can still be downloaded by purchasers because of the way the licenses were written.) Considering Sony also sells digital games this is pretty concerning. It seems like their games division licenses are better (lots of PS3 games have been delisted but can still be downloaded) but who knows?
Regardless this is not a good look for Sony as it tries to push an all digital future with its discless PS5. Digital content has the potential to be a big win due to its lower production and environmental costs, quicker distribution and easy patching but, as usual, once large corporations get hold of something they just slowly make it worse and worse.
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