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It will be back.
It's not about data, it's about control. If you need to have a PSN account to play, then they have ultimate control whether you play or not, which is important to them to maintain for their multiplayer games (their reasoning, not mine).
What doesn't really make sense is that the PSN requirement exists for their single player games as well.
Pulling players into a singular "ecosystem" that they can easily control/moderate and use to push other Playstation products to you. Also like you said it looks good for investors.
This does actually make sense and would explain why there's a PSN account requirement even for their single-player games.
Used to be the reason, 10 years ago.
https://www.youtube.com/watch?v=njC6lQ_GJcA
Electronic arts.
Ubisoft
(just to name a few) are all in the same boat with Sony
I think Sony already boycotted the world through the PSN requirements that at least 180 countries do not have. This is a very good example of "never interrupt your enemy when they are making a mistake" type scenario.