My simple question to those who would is "Do you play the game or the Box?*
Google what a video game is and what its meant to do and you will find your anwser there.
My simple question to you is "Do you prefer to buy a product, or a service that you don't control ?"
If your Steam account is closed (for whatever reason, like not accepting a new EULA for example) you loose all your games.
Note : link redirect to a french site, so there is this that is not the same story but seems to have the same result.
Iv had my Steam account since 2004, it has been more relyable then any console purchase i have made. All my games are playable today with free updates in 2016.
Look at the benefits
My games cant get lost, Stolen, Damaged, my home storage space increases, i dont have to put the disk in the machine to play it, and i can go anywhere around the world and not have to worry about taking my games with me.
That assumption electricity no longer exists.
Sorry but iv been collecting games since the 80s. I have no room or the patients with phyical games anymore. Its no longer needed.
I game because i want entertainment, not so i can look at a box on my shelf knowing that its mine forever when in fact even phyical copy of games can still be taken away. I own many CD based games that no longer have support though a server. What if Live or PSN go down and you own 500 phyical games and you need a day one patch?