Millercarbon,
" The great mass of people abandoned the quality of records for the convenience of CD." (not true)
For the great mass of people, CD was far superior to records, and CD is still far superior to records if you don't have a "high end" analog rig. No, you didn't witness mass insanity, what you saw was reality.
I had a Gerard GT55 and a Shure V15 cartridge, which was in the class of TT's that the masses had, and CD is still far better to that. When "noiseless" CD came out, those in "low fi" (most people) immediately switched over. While those who were in the "high end" said "What's the big deal". No, it wasn't about convenience, it was about superior audio.
When they said "What's the big deal?", I said one of us is crazy. No, both of us were right; it was just that one of us had a high end rig and the other didn't. Today, my cartridge alone, costs twice as much as my entire rig back in the day, and that's not due to inflation. CD still sounds better than a mediocre vinyl rig, and anyone who says different is pushing some kind of agenda.
Supply and demand "always" rules price, not superiority and inferiority; that's the way capitalism works.