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It would eventually happen anyway.
Sony could easily create a PS3 emulator for PS5 but it seems this is very difficult, only kids in their basements with little money seem to be able to create such emulators.
Physical will always be my way to go, especially now in this era of cancel culture and cultural revolution. Nobody can take away your physical games/movies and you will always be able to play it the way it was released. For now.