> There may also be a trend more toward collectors and classic/vintage games vs. the
> latest stuff (which are likely being downloaded more often now).
The last few boxed PC games I bought (and there haven't been very many) still required Steam. They were basically codes in a box, with the bulk of the installation files on a disc so you didn't need to download the whole thing. I can't remember the last time I had one that was installable and playable just from the disc. The last one I can recall buying at all was Civilization VI, and that was a year and half ago, and I only bought the boxed one because it was free from Dell loyalty credits. There's just no reason to ever buy the boxed ones any more, between Steam, GOG, Origin, etc.