Why does it always come down to "what is better"? Neither are better or worse just different.
I go back and forth between vinyl and streaming. No cd player, but have 2000 cd's in boxes in the garage, my collection is digitized on an HDD. Also have around 2k records. When I want to really listen to something, usually it's a record. When I want background music, or not sure what I'm in the mood for, it's streaming.
Sound quality always comes down to the source recording. Some of my records sound better over streaming, some streaming sounds better over vinyl. For me, vinyl listening is usually more emotional, more focused.
Downside of records will always be the time investment, also that everything is a wear item. Everything needs to be clean/cleaned, storage of LP's, the entire analog, manual process. Listening to vinyl is deliberate, streaming is always more convenient.