All one has to do is watch anything well made from Lawrence of Arabia to Dune on Blu Ray and then compare it to streaming on cable. So much is lost in translation, so to speak.
Taking away discs will force some to go back to the theaters, get soaked in ticket and food costs, and still get a loss in quality compared to a good home set up, like most of us here have even with our two channel set ups.
I, myself, have outgrown the theater experience as the audiences are coarse as well compared to ones in my day. Too much noise and distractions that take away from the experience.
All the best,