To be fair, I think most old ‘hi-fi’s (most were mini systems or similar) have been replaced with smart speakers, Sonos, etc., rather than the room’s ‘music machine’ disappearing altogether.
How has the move to from physical product to streaming impacted on listening? Very tough to say. I suspect you’re largely correct, but I’m not completely sure.
I’m a big believer that providers should make more of displays. Yes, it’s a shame we’ve lost gatefold sleeves, etc. But many listen to music with a TV on, and there’s a golden opportunity for the albums of today (and even catalogue items) to have excellent accompanying visuals on a 55”+ TV screen. I don’t feel they’ve tried too hard to tap the potential.
Lyrics on the app are a fair start, but come on, there could be so much more.