Nah, those update files will be floating around the internet in 20 years. Plus, you can just back them up to an external drive.
You can but if you collection is big the more hdds you need then you may want to back up that hdd lol. It gets all messy. Especially when some games have 20gb+ download updates.
Honestly I hope Sony, Nintendo etc just store them online even if you have to download via PC then use an external hdd to load it in.