CD quality is the standard only because it was the first digital. The next was ripper files, then purchased files, now streaming.Since streaming services more and more have higher resolution files than CDs, streaming can frequently sound better (equipment dependent like all of audio). Qobuz for instance has over one half million high resolution albums. My streamer sounds better for these, in general than the CDs, and on pretty equal footing with my high end vinyl rig.
Streaming is simply an unbelievable good deal. Nothing to do with “the industry” not wanting you to own stuff. For the price of one CD per month you get access to millions of albums! This is a screaming deal. The trend has been for higher quality through streaming and the cost is going down not up. It is the future, period. I had 2,000 CDs. I gave them away. I never listened to them anymore since I got good quality streaming.
Technological trends cause change for all in the area. For the consumer, it creates real bargains. For musicians it creates problems, how to, adjust to the new world. I know some. While they are not happy with the small payments for the use of their music, my close friend makes money through concerts. They will need to work this out over time.