It doesn't even have to be a morals-based boycott like Harry Potter.

Practically, just as an amoral consooomer, there's no reason to purchase a non-upgradable, barely-customizable gaming device which is confined to Playstation's walled garden when you could buy an upgradable, highly customizable gaming device that you can do whatever you want with.

My primary console since my teenage years has always been a Playstation. That will change probably before the PS6 even comes out. I have a PS5, I probably won't sell it just in case of any interesting exclusives. (Lmao, I know, magical thinking, considering there are still only 6 such games, none of which appeal to me enough to buy them). I'm planning to get a PC and buy everything I can on there instead.

Some reminders of Playstation's bullshit other than just physical media:

• Removed the ability for you to back up your PS5 game saves to USB, forcing you to buy PS+ or risk losing your save data permanently if something goes wrong.
• Discontinued free multiplayer services, ostensibly to improve the security of their network after North Korea hacked their shit for releasing a movie about assassinating Kim Jong Un (or Kim Jong Il, I don't remember). Morally, idgaf about mocking North Korea, but economically, I do give a fuck about paying a corporation $80 per year to cover their operating expenses for doing so.
• Discontinued most forms of customization. PS3 and PSP could install full-on user-made themes, or you could make your own, even customizing things like the sound the interface makes when you scroll through it. Now you literally cannot even set a proper background.
• Refused to manufacture their controllers with hall effect joysticks (which prevent controllers from developing stick drift). Both ridiculously-expensive PS5 controllers I bought developed stick drift, and I'm not particularly rough with them or anything, not at all prone to gamer rage lol. I bought a third-party controller (SZ-5005B) with hall effect joysticks and haven't had any issues since.

I'm sure there's tons more too. Also the PS5 interface just generally sucks shit, like sometimes my Media Gallery is on my homepage and sometimes it's not despite me not changing any settings, or just other stupid design choices.

I think a lot less people care about consoles now. People are moving over to mobile, not necessarily solely Android or iOS, but stuff like Switch or Steamdeck.

We'll see. Boycotting a $1000+ digital only console will be easier than boycotting a $70 game. Will millions buy it? Of course. But shareholders don't just want SOME of the money, they want ALL of the money. It needs to sell many tens of millions.

Is there anyway to backup our games purchased on Steam?

Yes, you can copy the install folders and saves for them. Some can be modified to run without Steam fairly easily, some will need more involved cracks. Generally it's easier to just redownload the whole game cracked and move your save files over.