The emperors new virtual clothes
This has become a big thing for photographers after a few made the kind of money in a single auction those selling in the traditional means could only dream off. since then it has turned into a almost cultish way with the high priests (aka the auction site owners) preaching to the converted and denigrating any heretics who have the temerity to suggest that the emperor clothes' are anything other than finest silk.
To me it feels like a hype bubble, with a few early subscribers driving the market, while the majority of people are going 'Meh'. There are also other concerns such as the legal status of the image, copyright ownership and the fact a huge amount of energy is being consumed to basically generate no real value, only virtual ones.
Of course I could be wrong and in 20 years time we will all be lovingly downloading our owned digital prints to display to our expectant descendants rather than the actual limited edition physical object. However something tells me that an original physical manifestation of say a painting will have better long term value than say the digital print of that object even if it is the only one signed by the objects creator