I ripped my entire CD collection (just over 2000), which I have backed up locally and a second backup I keep off-site. I also have some 300 albums in my Spotify library, which I use for albums I might want to play once or twice, but not anything I would be upset by if they went away. Anything on Spotify I would be upset about losing, I buy the CD and rip that.
I don't like the way Spotify or any other streaming company tags their albums, I much prefer my own system, so another reason to rip my own CDs rather than use theirs.
Mastering is a further reason to rip my own CDs, as I have original CDs going back to 1984, so before any remastering. With very few exceptions, I've found remastering universally worse than the original, so even with any CDs I buy, I prefer to buy a used but original mastered CD than a later remastered.
As much of my music playing is classical, all streaming companies make a pig's ear of cataloguing those albums.
I also have several hundred LPs, and haven't ripped those as to me the whole point of owning LPs is to play the LP itself. When I've wanted a digital copy of an LP, I've bought the CD, again original rather than remastered.
Although I still have a CD player in my main system, that gets used far more for when a friend comes round with a few CDs for an evening of tunes than actually playing my CDs, which just get ripped then stored.
S.