I’d say the answer to "which sounds better" is "depends".
Let’s assume that the "chains" in your system sound equally good:
CD player/DAC = Streaming source/DAC
I find that often the hi-res master that’s available for streaming from Qobuz is oftentimes more-recently mastered and oftentimes does sound a bit better than the mastered version on my CD.
I also find that some of my SACDs do sound a bit better then the FLAC files from Qobuz, but that’s atypical.
More times than not, I will select the Qobuz version over my CD/SACD version.
Let’s assume that the "chains" in your system sound equally good:
CD player/DAC = Streaming source/DAC
I find that often the hi-res master that’s available for streaming from Qobuz is oftentimes more-recently mastered and oftentimes does sound a bit better than the mastered version on my CD.
I also find that some of my SACDs do sound a bit better then the FLAC files from Qobuz, but that’s atypical.
More times than not, I will select the Qobuz version over my CD/SACD version.