I still buy and rip cds. There is no easy way for me to see if a an album is mine when buying on the go, if I already have it my library.
Additionally, a quite a bit of my personal music was replaced with Apple's versions, a couple of the times I tried Apple Music, which aren't always the same. I had to restore from a backup.
Hmm... I can see how that would be annoying. I ripped all my CDs to lossless and keep them on my NAS - any new music is just streamed. Plus Atmos is generally mushier although spatial effects can be pleasing when done right.
These days though, I'm good with AAC versions - I generally listen on earbuds, or in the car, so there is no benefit most of the time to listening to higher quality versions. Plus - my hearing isn't quite what it used to be.