kai2: IMHO the digital marketplace has created a "democratization" of content -- a place where almost everything is available at all times. The only gatekeeper is price. So, I would argue that the first aspect of value -- the search for a product -- is reduced to a few keystrokes.
The second aspect I think about when ascribing value is... how much do I enjoy seeing the physical product? A digital product I cannot see. Certainly there can be digital elements that can be viewed via computer, but I can't look at a game box inside a hard drive.
That leads to the third aspect... virtual games take up no physical space. I don't have to reconfigure my desk or book/game shelves. I don't have to have a relationship with the item and think about whether I have room for it in my library. No, it sits like a ghost on a hard drive taking up bits and bytes that I cannot see as anything but an abstraction. Certainly a digital game takes up memory / storage but again, it's not a space that can be physically experienced
That abstraction creates what I'd call a a "false" relationship with a window listing everything on a drive.