In a since deleted tweet from Bethesda Support, they have informed a user that all physical versions of the game regardless of platform will only contain a code to download the game.
While this has been the norm for PC for a while this might be the beginning of a trend for consoles. Personally I feel like there is no point in having a physical version at all if there won’t be a disc included let alone charging full price for it.
Update: After yesterdays news that Starfield might not have a physical disc, Bethesda has come in to clarify the following
Starfield Standard Edition is included with Xbox Game Pass. Game disc included with physical purchases of Xbox Standard Edition. Game code included with physical purchases on PC Standard edition.
I guess the reason it'll have a physical release is that they want to get it into stores. As much as things are going digital, having product on stores and in front of people who otherwise might not know about it is still a pretty solid way of moving units.