Not really, Blockbuster died more so because of horrible business models and probably the biggest reason was Redbox. Why drive all the way to a Blockbuster when there is a Redbox kiosk at virtually every corner with the same movies.
The comparison is still off. You can buy games online on PS and play them through Sony services too. If a person has no attachment to physical copies, there's no reason to leave your house to access games on either system.