Like everything in forums like this, this is just an opinion... a preference. So, please don't get your shorts or panties in a twist!
I haven't read all the the responses/comments in this thread. However, I have to say I am solidly in the camp of the folks who like to have a library of music that can be accessed by simply moving one's butt off the couch or sweet spot and choosing something to listen to. I've got somewhere around 2 or 3 hundred vinyl LPs and 4 or 5 hundred CDs. I used to have some music on reel-to-reel tape, too, but got rid of that some years back after my reel-to-reel deck gave up the ghost.
I've reached a point in my life where I don't buy near as much music as I used to when I was much younger, simply because much of what's out there nowadays doesn't move me to the point of wanting to buy it. I like a lot of it but music from the 50s through the early to mid-90s is what I listen to most. I also have a fair collection of re-pressings and recordings from of 40s music and a fair collection of Classical. Having a record jacket, liner notes, cover art work, CD liner notes, etc. in your hands to peruse or share with guests without having to pass your laptop or IPAD around is also something I like.
I spent an afternoon in a high end audio shop recently, using a Bluesound Node and that was really cool and very convenient! Sound quality on the system I was using at the time was, also, remarkably good! That got me seriously thinking about streaming. The sheer convenience of being able to call up or dial in ALMOST ANYTHING you want to hear with a few clicks, without leaving the couch, was fantastic! However, after doing a little research on the monthly & annual cost(s) of a quality streaming service(s), I was put off. I just don't like the idea of chaining myself to yet another monthly bill, like cable or satellite, that you know is going to go up, year after year, after year. And you know, sooner or later, there'll be some software upgrade you'll have to get or buy or download or whatever, right? If quality high-resolution music streaming costs were CONSIDERABLY less, I just might change my tune.
I can fully appreciate the cost-effectiveness of streaming for folks who prefer to buy only selective cuts, as opposed to entire works or albums, and for folks who buy or we're buying a lot of music on an annual basis. As someone pointed out, though, what happens when you've ripped or stored music you want to own or keep on some sort of electronic device when that device fails? I know there are various backup methods but isn't that an additional expense or investment? Another factor, for me, is digital audio versus analog. I have yet to hear anything in the digital medium I prefer or like as much as well-recorded, well-engineered vinyl; providing, of course, one is using a good turntable, good cartridge, etc., etc.
Again, just an opinion, a preference, what floats my boat. I guess I've turned into my father! Gotta say, though, the technology is improving all the time. The real question is: when it gets there, will mere mortals be able to afford it?