The Cloud vs The Real Thing

What is your stance on purchasing from the preverbial cloud? The prospect of obtaining all of your media, whether it be your music, films, gaming or whatever else from an online hub/server, purchased from your e-wallet (to which you have full ownership of). This is rather than the more conventional method of using your real wallet, and purchasing an actual disc and case to put up on your actual shelve.

Is this simply the way the industry is going, is it something we should all adjust to for going forward? Or will we simply not have the choice in the future at some point?

Cloud Gaming - You may have full ownership of your media, but you have no physical object to signify it. Is this such a big deal? Not personally, but I can see people not adopting this with open arms. This also saves space, because your then not cluttered with discs everywhere.. I suppose.

The Real Thing: Maybe im just nostalgic, but I think I would miss not having an owned copy of something, whatever it is. There is, however, no huge benefit on having the physical item, as long as you can fully trust the cloud to keep a track of your purchases.

With E-Books, Itunes, Steam, amongst many others. It may just be the way of the future.. and lets not forget, it is greener afterall.