Apple has released Mac OS X Lion as a physical product to purchase, albeit in the form of a USB thumb drive instead of a DVD as it has historically done before.
Mac OS X Lion is the first Operating System from Apple to be released initially as a download-only upgrade, but has now taken the step of making it physically available for purchase and delivery through its online Apple Store at a retail price of $69, compared to just $29 for the digital download from the Mac App Store.
The thumb drive does still require Mac OS X Snow Leopard to be installed on the host Mac, so it's safe to assume you probably can't boot from this thumb drive. It should also be noticed that you can't restore Mac OS X Lion from over the Internet if you need to later on down the line, you'll have to restore from the thumb drive.
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