The whole disposability of games has been a huge concern of mine this generation, too, mostly due to the nature of digital distribution and the inability of license holders to see the big picture. For the latter, everybody wants their cut, from the voice actors to the musicians (which is understandable), but their demands are too high and it's blocking the release of older works. I've seen this happen far too many times with DVD releases (look up The Odd Couple or Batman with Adam West for good examples) and it's doing a tremendous disservice to their preservation. It's tragic that so many old/classic shows and broadcasts are forever lost, and the same thing is going to happen to games (well, it already has happened with games like Princess Crown and the Game Boy Mega Man) if something isn't done.
Of course, the nature of video games does make preservation harder than it has to be. I don't like that being used an excuse, though. If enthusiasts and studios alike can build accurate emulators, there is no reason for games to be lost. Software emulation should have become a major point of interest for every company, hardware designer or not. As for hardware-based compatibility, if the PS3 was able to include components for three separate consoles, there's no reason why the PS4 couldn't have kept going. At least for the PS3, anyway. The power of the new console should be more than enough to properly emulate the PS2, while providing the hardware just for the previous generation. Yet, if they don't care enough to do it, then it is their loss. All these companies want to complain about piracy and the theft of their back catalogs, but do little in the way to stop it. If it's too much work and too much trouble for them to keep their games available, then they should let the games go.
Anyway, now that we know that backwards compatibility is being axed for the next generation of consoles (except for the Wii U, 3DS, and somewhat for the Vita), it stinks for the industry, newcomers, and those who want the convenience. Backwards compatibility makes it easier for customers to adopt new hardware while continuing to push the sales of older releases. Despite Microsoft's statement on the matter, producing hardware that can play the games of the previous generation allows them to discontinue the older hardware faster and sell their new games.
Finally, I want to say that the absence of used games will hurt the industry. Still, let Microsoft (and possibly Sony) carry out their little experiment so they can get proof of that.