Physical media lets you have privacy without logging when you watch media, what media you consume, how many times you consume it, or how long you consume it. You can enjoy it offline, and in 20 years long after the studio that licensed it is gone. You can give it to a friend or loan it out. Or sell it. It is yours. Meanwhile DRM media we pay full price for, or if the content is only available via streaming we pay for…
Almost all of my optical media from around the year 2000 oxidized and stopped working. I've lost more CDs, DVDs, and blue rays to scratches than I care to admit. Many of my old photos and books were destroyed with some water damage. Much of it was due to improper storage, but that's where the very real value of not having something physical or on site comes from. When I get a choice between cloud and physical, I now…
I encourage anyone with physical media to make digital backups right away in case the media becomes unreadable down the road.
Then the original media, readable or not, is just a physical license certificate that sits on a shelf.
In the case of blu-rays or DVDs be sure you rip them by simply doing analog MITM recording in a custom LCD controller just after the DRM decryption is done so you don't break DRM circumvention laws.
For sure avoid using any of the really good open source tools that can get you identical copies in a shorter period of time. That would be illegal.