You make a good and important point @vthokie83.
Having a large album library (on LP and CD) is the result of a lifetime of buying physical "media" (I hate referring to music as media, but it’s now the common nomenclature), starting in the early-60’s. I was one who kept buying LP’s for as long as they were being produced into the early-2000’s, and kept most of them. When a lot of the music I wanted to own was released on CD only (starting in the early-90’s), I finally broke down and bought a CD player (a Philips CD-80).
Being a younger music lover now is a completely different situation. Would I start buying LP’s and/or CD’s now if I was young? Who knows?! I’m not one of those people, and they aren’t me. And once again, for those whose source of music in the home is not physical, the question posed in this thread is immaterial.
Having a personal music library (okay, a record collection) and being an audiophile have something in common: they are both enthusiast endeavors. LP’s and CD’s are important possessions to those who own them, just as one’s hi-fi is important to an audiophile. It’s an expression of their personality, their passion in life. My interest in people who don’t love music is limited, but I can easily accept a music lover not being an audiophile.
I had one very close friend, the smartest person (by far) I’ve ever known. His main passion in life was music (the other being chess), but being very musically educated could "hear" music by just looking at the musical score (the sheet music). He always had a crap hi-fi, and treated his LP’s with utter disregard. He spent his final years recording J.S. Bach works on his computer. That was the only music he cared about as he approached death. In his younger years in was Dylan, The Beatles, Brian Wilson, The Band, Randy Newman, and then Elvis Costello.