In a science fiction novel I wrote, the main character has trouble understanding the concept of data that has a physical location; to her, it's something that's just there. While I don't know if the real world will be that extreme, I don't think it's at all impossible. I think over the long term -- and maybe not even all that long -- it's probably inevitable.

It does require some mind-shifts on all sides, including those of content creators/providers, though. I don't know that I need to "own" any of my media in an everything-available-all-the-time world, but that requires, well, everything to be available all the time. If content availability comes and goes like the tide based on contracts and deals that I'm not a party to, it makes me a lot more skeptical of the implicit everything-everywhere promise.