Even though I do a lot of streaming, it is NOT part of the argument that you have to give up any other format. Like others have noted, I have many albums in my local collection that are not available on streaming and never will be -- for example, the ones that weren't commercially available releases. (I spent several years transferring a hundreds of LPs and open reels to digital.)
My system integrates my local collection and my Qobuz account seamlessly -- no problem to play one song or album from my local music and the next one from Qobuz.
So, suggesting that going to online streaming requires one to discard your existing collection makes no more sense that saying back in the 1970s that you couldn't listen to FM or cassettes if you had a turntable. If I like the music, I'll take it in any form I can get it.