Can play a game at midnight when it comes out. Also with a mostly digital library I can play a game while another is downloading while if I was only physical I'd have to wait for that game to finish downloading to play my other physical games. Also with digital I can share games with my family and we can play the same game the same time with 1 digital purchase.
Why wait until midnight the day it comes out? You just need to find a retailer that consistently breaks street date for pre-orders, then physical versions allow you to play a day or two before it comes out. Shopto are a great retailer for that in the UK, I haven't pre-ordered a game in a long time but every single time I've got one from them it's been before release date. I even got Halo MCC 3 days before release, that doesn't happen with digital