I remember having an iMac with 3TB hard disk on which I stored all my CDs ripped in an lossless format. iTunes had an option to stream the library to local network and since this iMac was on 24/7, this was a perfect solution for me to have an audio-NAS and also kind-of remote streaming when I was connecting via VPN to my home network. Than there came Tim Cook's "upgrades": OS X was renamed to macOS, iTunes to Music,…
Apple seem to believe what you’re talking about is supported via Home Sharing [1]. I have attempted to get this to work with a little success but I wonder if it was too little too late for you? [1] https://support.apple.com/en-gb/HT202190
Even for a family for instance, it means they'd all have to share the same ID, which would be a royal PITA, especially if you're setting parental controls for the kids.