I embraced optical discs starting in 1989: CD and Laserdisc.
For audio... I still have my original CDs I bought and ensured I ripped them to my Macs before Apple stopped including built-in optical drives. I haven't purchased a CD in about 7 years now.
For video... I still much prefer disc (though I will grumble with some that force you to sit through previews). Prior to about six months ago, we didn't have unlimited internet, so streaming was a concern. We set our Disney+ to use the more compressed format. And, for content where we'd know we'd watch it over and over, we either played the DVD/Blu-ray, or purchased the content (e.g. iTunes to be put onto my Mac). Thus, we tried to minimize the quantity of times content was downloaded.
Today, while we do have unlimited internet (well, 100 TB per month; effectively unlimited), we at least set all the streaming content to use least amount of compression.
My wife & son are not purists like I am, so for cases where they want to watch something that we own on disc, they will typically just stream it due to the convenience.
Having said all of that, I reserve purchasing discs for only the most rewatched of movies.
e.g. James Bond. I owned all 16 titles at the time on Laserdisc. Then repurchased all later on DVD. Then now have the full Blu-ray set. Same for many of the original Disney animated classics. As of this writing though, only the newer Bond titles are available on 4K and none of the Disney classics are on 4K.
But history tends to repeat itself. There are many DVDs we have where we never bothered getting the Blu-ray version. I was cautious to only do this if the studios spent the time to say clean up the footage. Some studios are now simply doing upscaled 4K content for their 4K Blu-rays. I take a hard pass on these. If the studios will later do the right thing, I may update more titles. As of now, there's only around 15 to 20 titles I'd be upgrading to 4K.
Currently, I only own two 4K blu-ray discs; Matrix Ressurection and Interstellar. There are other titles I'll definitely upgrade such as "The Wizard of Oz" and the original Matrix trilogy as they are all properly done (not upscaled).
As an aside, I always thought that the industry would move towards say SD-card-like media. Would be kinda cool to have multiple movies on single cards.