The movie itself is generally encoded at a higher bitrate than what you can find in streaming or torrents.

The media includes bonus features that generally aren't available in streaming or torrents.

The media will not suddenly stop existing if some server breaks down, some company goes under or some contract expires.

The movie will not suddenly get "patched" with an AI-upscale or censored scene one day while watching it.

You can lend the media to someone else to watch without having to ask for permission to anyone else.

Ever compare a Blu-ray to the same content over streaming? It's not even close. Unlike vinyl records, Blu-ray is vastly superior in quality to alternatives.

In case you're asking "why", it's because your "4K" stream is compressed to hell and back. Your home internet connection doesn't even have the bandwidth to stream the quality of a BR.

Many of vinyl's unique characteristics are severe drawbacks compared to digital disks. I see a lot of kids collecting CDs instead—cheaper, lighter, easier to maintain, you can find cars that play them pretty easily, you can rip them losslessly, more hardware to play them, etc. Plus you can a lot of the same benefits of album art, lyrics, etc.

Blu-Rays also have special features, which most streaming platforms don't offer (I think largely except for iTunes).

Having it, physically. It’s harder for companies to play silly games like put the media into a vault, take it off their streaming platforms for tax reasons, etc… I started collected physical blu rays when HBO randomly took a million things off its platform so that it could do accounting tricks.

I want to support artists who make content I like, but I also want control over my media library. Physical media is the best way to do this.