My best mate and I had a phase for a few years when we also only collected FLAC and ALAC files. 
Now I don’t have the time anymore. And I also don’t have the equipment to really appreciate the difference. Back in the day I used to listen with AKG K701 studio headphones, now I don’t have them anymore. I’m just streaming everything now. And I’m using AirPods Pro 2. I think they did a great job with Spatial Audio and for the lazy person (me) that’s good enough for now.
Let’s see how that will work out in the long run. Streaming is kind of the equivalent of fiat money, isn’t it. You don’t own shit, you can be rugged anytime and probably will be at some point. Not your library, not your music…