When was the last time you walked into any store and bought a feature length film or tv show on hard drive or SSD?
Even on a streaming service, the files are stored physically somewhere.
What is your plan when the licence agreement for your favorite series expires on your chosen streaming service and no other streaming service picks up the show?
All media is still, technically, physical media
No one is arguing this. You're making the strawman arguement. The not-so-subtle undertone of the article is clear.
Quoting the article:
The planned job cuts come amid a decline in demand for traditional storage formats such as Blu-ray discs, with streaming services now the norm.
...
The electronics and entertainment conglomerate will also gradually cease production of optical disc storage media products, including Blu-ray discs, according to the sources.
You will not be allowed to legally own tv shows or films and you should learn to like it. As I can tell from many of the other comments here, not many of us are fans of that idea.