Just like prices would not race to the bottom on mobile. The move towards game rental service subscription brings, if successful, a serious and difficult to recover from effect on perceived game value and so far mobile has not recovered yet. Then again GamePass and the likes could still live side by side with regular game distribution and that is where hope lies (publishers starting to change games/optimise games for GamePass fits the model of those worried about those digital rental service subscription shifts).I'm pretty sure last time I checked all of my disc based games still worked even though I have game pass. The issues people seem to bring up about game pass are 'what ifs' and not really the system as it is today.
What if the price rises to $50? What if game pass is the only way to get games on Xbox? What if the only games on game pass are games as a service? What if all you can do is 'rent' games and they stop selling them? The problem is there is no evidence any of these things will happen. How about complaining about things when they happen instead of random speculation? If they all happen pretty sure game pass is toast anyway.
Then again... some people did try to warn the likes of you about digital distribution not passing the savings to consumers (no middleman taking a non trivial cut of the sale price, no extra cost manufacturing and shipping discs/carts to stores, etc...) while they were touting the company line that underscored the first big pushes towards an all digital future and were ok with phoning home checks, etc... .
The games industry response to digital games being more profitable was “well thanks, we will gladly take the extra profits and justify it on selling you convenience and we will even try to force you to preorder them as if they were scarce goods “.