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Physical media will always be cool IMO, it just makes consuming it a more deliberate activity.

The main thing everyone needs to know is the limitations of a given format in terms of storage and archival:

• Vinyl records should be kept stored out of direct sunlight (I'm looking at those wall display things), and ideally try to keep them around 20 degrees in general. Also avoid cheap and 2nd hand turntables without buying a brand new stylus cartridge. If you can't change the cartridge on a given player, it's trash that will ruin your collection.
• Tapes, either video or cassette should be backed up immediately (unless they're one of the modern resurgence ones), degradation is already happening to the vast majority that were sold back in the day. Some tapes might need to have the little bit of foam replaced which isn't especially hard, but a bit fiddly.
• Commercially manufactured CDs should last at least 50 years or so, but high humidity can apparently diminish this. Anything that might be on a CD-R or similar (think small band merch purchases), get that ripped immediately if you even can. Some CD-Rs have suffered data loss after as little as half a decade.
• DVDs sadly have a potentially lower life than CDs at around 30 years before degradation, but otherwise the rules are the same at CDs
• Blu rays are same again, but shouldn't be much of a worry yet, but it's worth keeping an eye on them as some pessimistic estimates have them only lasting 20 years minimum.

If you're ripping any digital disks and you've got sufficient storage to do so, take the convenience copy (FLACs, an MKV or a CHD) and also a bit-perfect ISO. Discs sometimes have other stuff going on other than the main event and it's good to be able to reproduce the exact original if you ever need to. This is probably only for people who have a home NAS or similar though.

Those are the formats I'm familiar with, I'm not sure what the rules are for minidisk and laserdisk if anyone wants to chime in there

I started collecting DVD/BR again a year or so ago. Streaming services are no longer worth it for me, and I like the extras that come on discs. Thirft stores are a gold mine of cheap movies anf TV shows.

I never let go of my CD & DVD collection. And now I have all my CDs ripped. It was a ton of work (tagging rare, incomplete or incorrect situations), but it has been worth it. My next project is to embed lyrics in all of my favorite songs, and maybe upgrade the cover art resolutions.

I have zero streaming services, but 1k videos and 15k music tracks. All of them being shared across my local area network. My mum uses it, I use it, and my guests use it - you can literally copy junk from my HDD into your phone if you're visiting me, as the SMB login is anonymous.

Fuck streaming services. I'd be glad to pay for some if I could trust them, but I don't. Suddenly your plan is more expensive because "reasons", or whatever you bought is unavailable because "ackshyually you don't own it lol", so goes on. If buying is not owning then what I'm doing is not theft anyway.

And, sure, my hard disk could go the way of the dodo. There's always this risk. But compared with the certainty of streaming services becoming arseholes? I'm willing to take the risk, thank you very much.

(I'm also considering to buy a blu-ray external reader, to back all this shit up. So far it isn't a concern because I can redownload it; in the future, however, it can be.)