Are you saying physical discs can be disabled once the console and disc are in the hands of the owner?

You might own the disc, but what about the optical drive that has to read that disc? That is already happening with the 5th (PS1/SS/N64) and 6th generation (DC/PS2/GC/XB) consoles, the optical drives are dying and there are no proper replacements. Congratulations, you own the disc but you can't read it anymore.

- some games require online server (See The Crew)

- some games change with updates (try to play destiny 2 red war story line with your physical disc that you can still buy for some reason despite game being free)

- Nintendo can block specific cartridges (only thing that step Xbox and PS from doing that now is that it's not implemented on their end)

- some games have separate online pass and/or DLC codes that can only activated once

- on PC CDs used to come with a cd-key you had to activate (still do?)

- See Xbox One 2013 DRM plan

Only way to "own" a game is to have a pirated version of a game regardless of a platform.