Sony releases statement regarding the PSN license checks:
"Players can continue to access and play their purchased games as usual. A one-time online check is required to confirm the game's license, after which no further check-ins are required"
(via @Gamespot)
@Wario64 Here is a visual to help people understand. From the start this was blown out of proportion BUT that's because Sony didn't explain this and are now doing damage control so people understand what's actually going on. If they had made a statement at the start instead of silence...