It does seem like a reasonable middle ground would be something like selling a dongle that provides PIV attestation of ownership, that could be resold and could even be used across platforms. Of course, there’s no incentive for the console manufacturers to offer this.

Game cartridges but with TPM inside? What is not to like?

That would be kind of impressive if Sony had a "used digital games" marketplace and took a cut of every trade, without sending any to the publisher.