The comparison to Steam is false to begin with. PC gaming has NEVER been a trade with your friends (legally) culture. Console gaming has ALWAYS been a trade with your friends culture (legally). When was the last time you saw a used PC game store?

Second, there is no evidence that companies who's job is to maximize profit will have any incentive to lower their prices for disc-less games. For this, we CAN look at Steam (and other services). AAA titles are full retail when they are released. The price degrades over time, but the same thing happens with disc releases.

This is a one-sided win for Microsoft (and game publishers for XB1) and is yet another reason to avoid the XBox 1 like the plague. That is the market feedback that Microsoft should receive.