I know CDs are only 44.1/16 and can hit 20 kHz but it's still not as good as using 24 bit encoding.
16 Bits is a good distribution format. And after mastering it "fits" within human hearing. It is easy to fall into the trap where you thing something is better but in practice yuan't know the difference.
24 bits with 96K sample rate is a very good studio recording format. The reason is is used is because these recordings will be PROCESSED. they will be mixed with other tracks, likely compressed. There is an effect called "quantization noise" that occurs with t=yu do math with digital data, the high number of bits allows the data to be processed with no loss.
But after processing, including mastering
24 bit recording is great. In the old days we used to have to carefully set levels so at not to clip but with 24 bits clipping is nearly impossible. So 24-bit is universally popular in studios not because it sounds better but for technical reasons
Bt for playback of mastered material do you really need more than 96dB of dynamic range? If so how are you reproducing it?
It could be that you like 24-bit recordings because of the way they are mastered. People mastering for 24 bit, I think might use less compression the THAT is what you prefer but if you converted those files to rebook audio format you'd still like it and could nt tell the difference.
You can experiment yourself if you have a microphone and some equipment. then play it back as 320AAC, 44.1/16 or96/24 and if you listen blind try and determine which you are hearing. You'd need software that randomly switches formats