I'm 74 and still remember when 78 RPM records were the standard. My dad was an aerospace engineer and loved gadgets, so we always had a nice system at home, with a big Heathkit amp he built himself. I also remember when we got a 45 RPM turntable and thought those little records with the big holes were so cool - especially the colored transparent ones! Then 33 RPM long play records came along and stereo, FM receivers, tape recorders - we had it all and by the time I was about 12, I was building my own speaker cabinets and Heathkits.
Throughout college I acquired better and better turntables, amps, reel to reel recorders and stereo cassette decks. Accumulated quite a collection of records and tapes, gave many of them to my daughter and son in law (about your age) a few years ago and they were thrilled. Aside from stuff like this, they are 100% streaming and use the Cloud for everything.
Having come all this way - I'm done with physical media. Still have a big floor to ceiling bookcase full of DVD's and BD's, have already ripped all I want, not sure why I'm saving the disks (laziness, mainly). Boxes of old records and CD's up in the attic, most of them have been ripped too.
Now everything is on a 4tb USB SSD connected to a 2014 Mini as a media server (still running iTunes/Mojave for now) where I can access on all my devices at home. I have a small library of music on another Mac that I sync with my phone. I just don't see any reason to go back to physical media, for me it's a much better experience to have custom playlists that I've created. Not very interested in Apple Music, I prefer to own my media. In a way, I suppose you could say I still have "physical media" because it's all stored on an SSD with two hard disk backups (plus BackBlaze).