I got caught up in the vinyl revival, so I enjoy collecting that media. But even then, I consider it more of a novelty.
Generally speaking though, I prefer locally stored digital media without DRM over physical media. It’s just more practical.
That being said, I’m glad that physical media exists and hope it continues to be made. Choice is good.
As long as the record is in good condition, I find the sound comperable. I’ve played the same song on a high bitrate digital audio file and on vinyl and I found both equally pleasing to listen to.
I have a Fluance RT80 turntable, and am using the built in preamp. It’s connected to a home audio receiver (Sony STRDH590) with a 2.1 speaker setup (Polk Audio Monitor 60 Series II Floorstanding Speakers and a Polk Audio PSW10 10" Powered Subwoofer). A pretty midrange setup in others words. And I’m no audiophile, so weigh accordingly.
Edit: I realized you asked specifically about streaming. This link https://support.spotify.com/us/artists/article/audio-file-formats/ indicates that Spotify does up to OGG 320kbps/AC3 256kbps which is comparable to my personal audio library. So, statement holds.