It’s hard to justify as it’s mostly subjective but objectively I think having music archived in a lossless format allows me to transcode to more practical lossy codecs as things evolve.
It’s kind of like in the olden times owning the CD and you could re-rip anytime and whatever format you needed/wanted.
Plex (or equivalent) pairs great with Bandcamp where you can download the music you buy in lossless quality.