The relevant section is blunt. “The Software is licensed to you, not sold,” the EULA states. “You are granted a limited, non-exclusive, non-transferable, and personal license to play or use the Software for your private, non-commercial use on the system or device it was intended for.”
The terms also restrict renting, modifying, or obtaining games through unauthorised means. Nothing in there is new, technically. Sony’s EULA has always said this. The timing is what makes it land differently right now.
I will say at least with those you can still sell them, trade them, whatever. Unlike digital games.
The difference is more that they’ll be useless in 25 years or whenever Nintendo pulls the plug on the download servers.