Just download the game installers from GOG onto three external SSD's and you have them forever. Whoever subjects themselves to steam has zero sympathy from me.

GOG allows you the option to download the games installers right from its page to your own HDD.
You can backup any game from GOG you buy there.
Usually they find a stable or suitable state of the game, and stop updateing it though.
However its still there and playable, from a installer.

So with GOG you get that, and you still have a the updates ect if your playing the game from the launchers.

The 20 years or however long your HDD last :p

This is true, especially with the Xbox One and PS4 and forward. The disc only contains the data but you have more control over the psychical aspect of it and where and what you do with the disc, where you play the game and who gets to play it etc. Though there was a time where you could get a disc replacement in older generations if your disc was damaged. Not all companies did this but there were a few that had this service. Also Walmart generally would do exchanges for the same game and I never had any issues with that. There were certainly options in the past to deal with these issues. Not to mention Game Stop and Walmart also offer $5 product replacement warranties for games which I believe is still an on-going program.

Another weird thing, is if you put a game on a HDD, the ps5 knows it's stored there and won't allow you to download it from the store so out of fear of my HDD breaking I now have to delete all my games off of it. I never seen that one coming when I decided to go digital.

Hanna Montana is going to stay forever in your library lol

In rare cases and theoretically, yes.
But it's far more common to lose the whole library which happens if someone is banned. Usually if you already have the games downloaded you can still play them but lose access to online features.
There was one time where a few PS4 games were not showing up in my library on PS4 but showed up on PS5. To be fair, my PS4 was having a lot of issues at the time.

Yes, your digital purchases can be taken out of your account (stolen) without your consent

Sony attempted to do this with shows purchased though them, I think it was discovery channels, though thankfully they were Ble to solve the licencing agreement to let customers keep their purchase, the answer is a resounding "yes your digital purchases can be taken away from you"

A lot of misinformation and FUD in this thread.

So which Steam games have been removed of all Steam libraries? LIBRARIES, not just delistings from the STORE SHELVES?

Which digital PS5 games have been removed of all PlayStation libraries?
Which digital PS4 games have been removed of all PlayStation libraries?
Which digital PS3 games have been removed of all PlayStation libraries?
Which digital Xbox Series games have been removed of all Xbox libraries?
Which digital Xbox One games have been removed of all Xbox libraries?
Which digital Xbox 360 games have been removed of all Xbox libraries?
Which digital Switch games have been removed of all Switch libraries?
Which digital Wii U games have been removed of all Wii U libraries?
Which digital 3DS games have been removed of all 3DS libraries?

Please list them!

The point isn't so much that it happened in the past, but that it could happen in the future.

Fun fact: Physical games aren't safe either! IDK about Playstation/Xbox, but Nintendo absolutely can ban a specific gamecard, preventing any Switch console from playing that game. It's never happened so far, and without a mandatory online check-in for the console it wouldn't be very effective, but the framework for this is in place.