I am actually going through something related - I discovered that through AT&T I had 6 months of Spotify free. I hate the Spotify business model and the way they treat artists, but it's amazing to have so much music available. I use it to listen to albums, I use it to listen to favorite songs over and over (like Deep Purple's new song "Nothing at All"), and I have playlists with stuff I like to play along with. It's at the point where I have hundreds of CDs in bags to sell once stores start opening again. I haven't committed 100% yet - I'm concerned that I might be making a mistake - but at the same time, I just can't be the caretaker of all these storage discs. I will be losing something in audio quality but not sure I can really tell the difference. The lack of documentation is a major bummer, but I can generally look up that info on the internet.
I still try and support the music I love - if a band is on Bandcamp, I buy their album digitally, then listen to it on Spotify. I tend to pay a little more to the bands on Bandcamp too. I'm hanging on to CDs that aren't on Spotify, or if they have some sentimental connection. But even that stuff I am getting close to jettisoning.
Any thoughts? I should have asked here earlier!