Yes, you can never "plug the analog hole" completely, but you can definitely lock stuff down to the point it's impractical for 95% of people.

For instance, imagine some sort of audio / video fingerprint system that resides in Intel and/or nVidia's GPU drivers. Content gets played through the on-GPU HEVC / h.264 decoders already. Doesn't seem like a huge stretch to add a fingerprint authentication system to that stage.

Have a list of content IDs that are protected, and require a valid license to play.

Yes, your source file is unprotected (video camera in front of monitor), but all of your devices are unable to play it. Yes, your ancient, circa 2024 desktop PC will still play it, but your new 2030 model TV implements this fingerprint system as well so you can't just cast this file to your 100" display in your living room.

This is to say nothing of other forms of content (applications / games / web pages) that actually could require attestation / DRM HW / always-on internet to run.