If this article is any indication of the state of phsyical media, then I’d expect the next generation to simply not have it at all

https://gbatemp.net/threads/new-fiscal-report-shows-that-physical-game-sales-only-made-up-3-of-playstations-revenue.675322/

Nintendo is already flirting with this with game carts that are just license keys to download the game.