* Big artwork and liner notes. I have shelves on my wall to display my current favorite albums and change them out over time.
* Conversation piece. Friends can actually browse a collection and talk about common interests. It's fun to hang out and listen to records with people.
* Vinyl requires some heavier duty stereo equipment. Regardless of how you think the vinyl itself sounds, it's a great way to get into building an actual hifi system, and that will make any format sound better. The stereo equipment becomes a hobby and collection in itself.
To me it's not a competition. Different formats can happily coexist. I own many albums on several formats (Vinyl for the living room, CD for the car, etc.) I use streaming too, especially for discovery and portable use.
And then there's the whole debate between lossy and lossless compression :)
P.S. For those who are interested in vinyl but annoyed by the prospect flipping records every few songs check out an auto loading turntable. These can stack several records and automatically play them one after another.