"But then, there is the nostalgic factor and the nice cover and gatefold art. Also, having actual physical media gives one a feeling of ownership, real intrinsic value."
That's the heart talking! I thought so!
Yes, I'm lucky I don't have to start from scratch. And quality of old pressings is very often better than current ones, a lot of poor vinyl used now. But if a youngster is into vinyl now there is a lifetime to build a collection.
My collection is similar to yours - more than 3000 pieces, built up since the early 1960s, some really valuable items now, very nostalgic. Will never part while I have ears.
I also think 'new' music is mostly over-rated. Unlike many here, I don't listen to much new stuff and what I do I usually don't keep. Kinda puts me off streaming.