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The CD is basically a coaster.
Not all games are DRM free and most physical games that require Steam are not truly DRM free.
Each game key is 1 time use only.
You can not resell game keys you have used.
https://steamcommunity.com/discussions/forum/1/135514231765760191/#c1735465524703094494
I didn't mean selling steam key. I mean CD
Selling the CD after using the key is basically fraud.
Edit:
I really hate seeing Steam boxed games at second-hand stores and even Goodwill and Salvation Army, because they are probably worthless. I've seen kids at these shops sometimes picking out a game and I warn the people in charge that Steam keys are one use only and that is going to be one disappointed child.
Most newer games have just the Steam client on them. Some smaller games have the game files on them but still need to be updated through Steam. Easier to just download/install all through Steam.
Suppose to help people with loading the game locally in theory, though the cd is generally out of date as soon as it’s printed.
The box and CD in it are nothing more then a placebo to help them feel better about buying a little slip of paper with a few letters and numbers on it.
I see why people like buying physical games.
You never really "owned" them on Steam. You purchased a license for them.