I still buy Music CDs. Why? Because once I have the disc in my hand, no-one can legally take it away from me. I can enjoy the contents legally until I'm dead, all for a single one-off payment with no-expiry.
However, my households use of streaming media (mainly Spotify) has increased for 'casual' listening, so I think there is a balance, and I hope that buying physical media for music wont disappear completely any time soon.
All my CDs (over 1,000 of popular/rock/metal and about 400 of classical, at the last count) are ripped in a lossless format, and on my file server, to be enjoyed in a modern way. I do dislike jewel cases, and all my CDs (and inlays etc.) have been re-homed into archival bags, which take up a lot less space. I think while CDs (and DVDs, and Blu-rays) are still being sold, they should 100% shift to carboard packaging instead of plastic.
I know I'm showing my age, but there's just something enjoyably tangible about physical media, as opposed ephemeral files stored in a cloud.