I have ripped most of my CDs more than once. I did it a long time back to MP3, but not at the best quality. Eventually I re-did tham as FLAC so I never have to worry about quality again. I very rarely play an actual CD. I buy vinyl now and again if it's a special edition I will treasure. Most come with a CD or download code. I love Bandcamp as they do lossless downloads. I've bought loads of stuff from there.
The experience of buying music can be more than just listening to it. Some have fascinating cover art and booklets that you don't always get with a download.
I have decent speakers on the PC, so I get a good listening experience. I have a few albums with surround mixes on DVD or Blu-Ray, so I have to use the living room system to experience those, but I don't do that so often. Steven Wilson has done surround mixes of lots of classic albums as well as his own.
Yes, especially the LPs with their large size has been really important for the accompanying artwork.
My PC is connected to my old NAD stereo and some enormous Danish made speakers, so the listening experience is as good as the LP.