Actually, closed source software, like most games is the bigger risk. I think that as drive sizes continue to grow, and with cloud-sourced backups, more stuff will simply be automatically translated. And most personal photos and writings are already lost, and always have been. More will almost certainly be saved in the future, not least because digital photos are shareable and copiable at minimal cost unlike the past. Print photos and handwritten journals were far too expensive to copy, and were expensive to store and move, most were lost every generation.

Hacker News is the last place I would have expected to have to defend the obvious improvements available in digital media.