This ultimately doesn't bother me, because once we make the final transition to no discs all digital content, there won't be any reselling of games at all. You don't go trade in games you buy on Steam any more than you can trade in music you buy on iTunes, and that is where we're headed. This is part of that step towards the disc-less future.
You're right about that, that's the direction that digital media is going. But that transition needs to be incentivised with lower prices to balance out the disadvantages of no longer being able to resell, share, or loan out games. Steam works because the games tend to be €5-€10 cheaper than on consoles at release, and they provide great value through frequent sales. They also provide services like Steam Workshop that allow you to extend the life of a game by easily downloading free mods.
Microsoft don't have a reputation for providing great value for money, they have a reputation for being money-grubbing bastards. Their sales have historically been paltry in both their frequency and their discounts. The Xbox marketplace is very much a closed platform where free updates are discouraged. They also charge for basic services such as multiplayer gaming and the web browser. Unless Microsoft reforms in most of these areas, they'll have a tough time convincing consumers that these new restrictions are providing value for money.
I think the PS4 event was much better. At worst, the reaction to that event was "meh". At best, it got people excited. The Xbox One event reactions seems to range from "shit" to "meh". Not the reaction Microsoft wanted, most likely.
I wasn't wowed by the PS4 reveal, and it had plenty of awkward moments (such as the Bungie guys and their motionless arms). But the sense I got from their press conference was that they were acknowledging the mistakes they made with the launch of the PS3 and were trying to do better by their customers this time. Not all the games appealed to me, and some of those that did will probably be multi-platform, but their focus was clearly on providing a great gaming service. It wasn't a great press conference, but it did open my mind to the possibility of buying a PS4 even though I have been mostly satisfied with my 360. Job well done for the Sony marketing department.
The Xbox One press conference kinda discouraged me from the console. I don't really watch TV any more, I don't give a shit about sports, and Call of Duty isn't really my thing. I like dogs, I suppose, but I presume that the PS4 will also have virtual dogs. This has been MS's plan all along, of course, they used a game console as a means to get a general entertainment device into people's living rooms. Maybe that will work out for them, but as someone who wants a console mainly to play games, this press conference was a disappointment.
As a side note, Gamespot is tracking a twitter battle
between those siding with the PS4 or Xbox One, with PS4 currently winning 89% to 11%. It's not all bad news for Microsoft though, they're winning in Nicaragua, Montenegro, Albania, Macedonia, Iran, and Sri Lanka. All fine emerging markets.