Mayby Sony will take the oportunity to release a cheap PS3 with a bigger Hard Disk and no expensive BD Drive. They could get the unit cost down and switch to full download distribution at the same time.
Two problems: Nobody would sell it, and nobody would buy it. Retailers aren't going to sell a console that they can't sell any games with/for, and consumers still aren't ready or prepared to download-only for things like this; the prices are astronomically high because there's no competition, and you can't trade-in, lend or borrow games either.
Unless the console is £99, there's simply no incentive whatsoever for the average person to get something so restricted. As Strife says, they tried it with the PSP Go and it didn't work at all; even after slashing the price they're still not selling.