I expect Playstation 5 to be 7-10x more powerful than the PS4, 24GB of HBM RAM, 4K resolution console and yes it probably will support physical discs (4K Blu-Rays). $399.99, fall 2018 release (MS will force their hand a bit). PSNow will become more of a feature.
MS I think will go digital only and allow for playable PC games, trying to beat Steam/Steambox at their own game with XBox Next.
Nintendo I don't know, and honestly I don't think it really matters one way or another for them all that much. Their format is not one of their bigger issues, maybe if it was 1995, ok yes, but it's not these days.