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Could a console hardware failure have the same effects on access as these server outages, according to the article?

No. The article says a busted disc drive or a dead console did not erase a collection when physical media was the norm, whereas server outages can make a digital library look like it never existed and block access to purchases tied to an account. Server-side failures can make ownership and access unavailable across devices, unlike a single console hardware failure. Answered

Xbox servers go down just days after PlayStation outage, giving us a glimpse into our digital-only future
Will the cited rise in hardware component costs (RAM and storage) directly affect PlayStation Plus content availability or only hardware pricing?

The article links rising hardware component costs (RAM and storage) to Sony's consideration of PlayStation Plus price hikes, indicating those increased component costs are a factor in subscription pricing decisions rather than affecting PS Plus content availability. Related article News #110208 notes Sony plans to monetize existing gamers to avoid raising console prices, reinforcing that the cost pressure is tied to pricing strategy. Answered

Sony confirms PlayStation Plus price hikes aren't off the table
Which studio closures do protesters cite as evidence SIE is disconnected from its fanbase?

Protesters cite the closure of studios like Bluepoint and Japan Studio as evidence that SIE is disconnected from its fanbase. They point to those studio shutdowns along with price hikes for hardware and services as signs of growing distance between Sony and its core audience. Answered

PlayStation gamers plan 'blackout' to hit Sony where they know it will hurt