I think they are hoping that people will confuse it with Wipeout HD. Either that, or they are hoping to capitalize on the renewed (if short-lived) interest in futuristic racing games that will follow in the wake of Wipeout HD.
I think the DL model has some promise, but not everyone feels good about downloading games, so a shelf presence is still pretty important (or has the ability to do it). That is, unless it's expected that the game sells nothing in stores.