Nintendo

And don't forget that if you somehow lose access to the digital product called "v1.1.2" without losing access to your save file, you still can't use that save file with the helpful little bit of plastic you have with v.1.0.0 on it. This is very possible with 3DS games, because the physical cartridge stores the save file but game updates are installed to the system memory/SD card. The 3DS also ties your licenses to the console, not to an account, which means that if you lose your 3DS but still have your copy of Smash Bros, replacing the 3DS will let you redownload the patch but not re-buy or re-download the DLC. Without piracy or buying a secondhand 3DS from someone who has the Smash DLC, you'd never be able to be Cloud on Smash 3DS again.

Physical game copies have been practically irrelevant from a software preservation standpoint since the X360 and PS3. Nintendo took an extra gen to catch up as usual. The only meaningful preservation work that can be done for modern game consoles is cracking the console's DRM so that even the "digital-only" games and all updates/DLC can also be backed up somewhere that will tolerate the death of all Nintendo servers and devices. Thankfully, Nintendo's software has never had an era where this isn't true by the end of the console's lifespan (sometimes it becomes true really early, like with the Wii and Switch). We just have to hope that the homebrew wizards find something on the Switch 2, even if it's a limited exploit that needs a hardware modchip and only works on launch models.