$100k spent on music and $20k on the equipment or the other way around or 50/50 ?

I have a lot more money in music media than playback equipment. It's probably a factor of double, triple or more.

That said, if I were starting today, I would be heavily weighted on equipment and subscribe to one or more streaming services for content.

equipment is a few major purchases, while music is many small purchases over 55 years...

In my case so far, though it might change if I go into tape world , I spent three times more on the equipment. I don't need many records and cds.

My approach to this ratio has changed drastically just over the past couple of years and I know I'm not alone.  I have almost no interest in owning digital music anymore and greatly prefer streaming ("renting") it.  The exceptions are when certain titles aren't available to stream.  The only music I'm really interested in purchasing is vinyl - mainly focused on jazz first pressings that also have value as a collectible piece of history and with wonderful sonics to boot.  My mono 1st pressings on BlueNote, for example, have been going up in value a ridiculous amount in just the past 3 years.  Overall, I will continue spending way more on equipment upgrades than music purchases for the foreseeable future.