I prefer physical when given option, but most publishers have limited physical releases here and they tend to be more expensive than digital because they are often imported. When I went to another country it was funny seeing physical games, specially Nintendo games, being sold 20-30% less expensive in physical media, when here they tend to be 15-25% MORE expensive than the digital versions

I think for most western games digital is fine because they tend to get deep discounts from time to time. You can get 2-3 year old games for 20% of their launch price, at this point there is no benefit from physical. I realized though Japanese games tend to keep their value for longer, except Capcom I think. Square sells their games for full price for a long time. In this case I prefer physical, because if I don't like I can sell it. Most of my 3DS collection was second-hand games, without physical resellers I would never played Fire Emblem Awakening for example

I hope physical still there for a while, there are some games I'd like to buy second hand in a few years when they become less expensive, specially some Switch first parties that imo are not worth 60 USD, but I could get an used copy for maybe 30 USD

I'm not physical only for games, but still am for music and movies. I do stream movies as well but that's replacing rentals. I've never bought a digital move but I don't rent movies anymore. For music I either buy CDs or listen to the radio, FM still. Never used Spotify and the problem with movie streaming is the fragmentation. At least Blockbuster used to have everything under one roof. Now it's figuring out which streaming service has what.

For games I still prefer physical. Installs faster, can delete without worrying about long re-installs. And good to have a set of games I can play during internet outages. Plus it's easier to find games, easier to share, and have resale value. No hassle with emulation either, just pop in the disc in the old system.

It also taught my kids valuable lessons to take care of stuff. You want to keep playing games, don't misplace them, treat them right.

Digital is also more distracting, too easy to switch to a different game when you hit a rough spot. With physical there is a bit more incentive to stick with a game and finish it instead of starting dozens of games and never really playing through anything. All the time having to look for what to delete to be able to update large digital games.

The same situation. In my region it's east to find physical AAA games in general. But there aren't a lot of smaller AA or A stuff on discs in the last 7-8 years. Also the prices of these physical AAA video games on day one are higher than digital copies because many of these discs come from other regions. 

For my ever growing DVD, CD, Bluray, Ultra 4K Bluray, Gaming library ($200,000+ currently). As for all my non-gaming stuff, no subscriptions are required, no Internet is required, and the format not being compressed to stream for the different platforms gives me the best quality in both audio and video spectrums. Why would I want to downgrade?

Over half my games, movies, and audio media is still wrapped in plastic awaiting my attention for the 2nd half of my life.

As far as deterioration is concerned, all my disks with the way I care for them will outlast me. No reason a 100 year lifespan for discs isn't achievable.

CDs are 3% of the industry revenue nowadays, DVD/Blu-Rays about 7%. Meanwhile, in consoles, the ratio is about 16%.

It stands to reason that more people are buying physical games but not music or movies despite the quality of the former being the same while things like Spotify and Netflix are just absolutely muddy in comparison to physical media. It's crazy that some people would latch on to physical console games but not care about the other stuff they consume.

Personally, I still own Blu-rays for the stuff I really care about and still download my music at the best possible quality. I own physical console games on the Switch and PS5, but I recognize that's mostly out of emotional rather than logical reasons.

People like physical as it is something tangible that they 100% own, rather than a digital game that you pay full price for, have nothing in your hands to show for it, and you cannot even trade it in if you don't like it.

Another issue is if you have a collection of digital games, let's say on your Xbox Series X, and you suddenly decide that you would rather switch to Playstation 5, you cannot just sell the Xbox versions and use that money to buy some of the Playstation versions. You are effectively stuck with the console you don't want anymore because you have all these games on it that you can't justify deleting. If you have money to burn though you could just re-buy all of them and not give a sh*t.

The things with CDs is not physical vs digital, is purchasing vs streaming. Digital music never really took off either outside few market like anglosphere and South Korea, most of world was either in physical on went full on piracy. Streaming is popular because it's unexpensive. I'm a person who listen a lot artists and like to discover new music, I could not listen as much music If I need to buy everything I want to give a try. 

Streaming subscription is just much much better value than CDs, unless you only listen the same artists and songs over and over. The difference in quality is neglible unless you have top tier headphones. Needless to say services like Apple Music and Tidal offer high quality sound compression, no reason for CDs 

For movies I believe the issue is not about streaming being better value than DVD/Blue Ray movies, since catalog is scattered among multiple services in the end streaming tend to be equally or more expensive. That makes streaming more valuable is their TV/Streaming shows. They spam multiple episodes, and provide entertainment for a long time, more than a movie. They also aren't tied with TV schedule, you can watch them at your leisure whenever it fits your day. Unlike DVDs they don't come to homes months after TV, so public don't feel alienated to buy discs

If I already subscribe to a service go watch seriated animation/live actions I can simply starting to watch movies there as well, and save money with movies purchases. I don't even have DVD/BR player anymore, when I want something not on streaming I have no option but buying or renting it digitally. If I want the best experience I go to the cinema which is far far better than any Blue Ray for immersion/sound/screen quality. Indeed that's why cinema still a bigger market than home media 

Would I quit gaming if it went full digital?

Of course I would!
Just like I gave up written correspondences, films, TV, and music when they went fully digital!

Seriously, I doubt everyone who says “yes”. No doubt they don’t like the idea of full digital, and likely have a strong preference for it (similar to music, film, and even choice of media such as music on vinyl instead of digital disks). They may even fear the transition and what it means for the industry (perhaps even rightly so). But I think anyone who likes gaming enough that they take the time out of their life to go on a gaming forum like this one is almost certainly not being honest (with us or themselves) when they say they’d stop gaming if they had to download their games instead of putting a disk into a machine to do it.

If gaming goes all-digital, I'd consider (but probably not go through with) paying for a subscription service but not purchasing games. I do purchase more digital games than physical by a wide margin, but the option going away would be a big issue to me.
Games where you can get most or all of the game ready to play without the internet is a great feature. And if you want to lend it or sell it, you have that option as well.
Physical going away would lose me and I'd stay on older platforms or older and cheaper releases on PC.
Sadly, PS6 and Xbox 5 will probably be the last consoles to support physical games (and it will probably be an add-on), maybe the successor to Switch 2 depending on the timing.
The far bigger issue to me with digital is not the lack of a tangible object but the heavy DRM. We should be able to legally back up digital console and PC digital games. And I know there's a worry about piracy, but then deal with it. People have distributed music from burned/ripped CDs a lot (which isn't allowed) but that hasn't stopped most CDs from supporting ripping on PCs.

Not only did I recently buy a copy of Spec Ops The Line because it's currently delisted from all online stores but the fact I only until recently noticed that most racing games have a lifespan of barely a few years because of licencing really is telling.

This is why disc drives are important. I wouldn't quit gaming though, it's my main hobby.