It's not that simple though. If you know already which albums you want to exclusively listen to for the next 10 years, that's fair.$130 a year. $1300 for ten years. Assuming they wont raise prices. That’s a lot of albums. In Sweden an album is about $10. So 130 albums. I don’t know about you but the amount of music I listen to 95% of the time is composed of .. maybe 30 albums, and that’s with a good margin.
Suddenly those $12 a month doesn’t sound like such a good deal.
In general, streaming services allow you to explore music which you wouldn't think of buying, because without streaming you can't even know that exists. Sure, there are also radios for that, and music venues, but the these means are not mutually exclusive. For example, I like to look up artists I've hear on radio programs.
Even when I like an artist or album, it's not a straight decision to buy it, it could be a passing infatuation, and if I bought everything I listen more than once on a streaming service, I would certainly spend more than $12 month.
And I'm not even a huge music aficionado.
That said, it doesn't mean the points raised by or the OP are not valid.
I do think that it's better owning copies than renting them. Incidentally this applies to other media too, like books and movies.
And it raises other concerns.
For example, is buying media only in digital format really safe? You are not guaranteed that the distributor will not withdraw the book, game, movie from their cloud, without warning (in some extreme cases they can even erase it from your device... Amazon is that you?). You don't know how long they will be in business, no matter how "too big to fail" they appear now. So you'd better save everything on hard media.
And yet, even in that case, you are not guaranteed that you will be able to enjoy your purchases if the format becomes unsupported (this is potentially true for any media apart from books, which in fact I no longer buy in ebook format): vinyls are fashionable again, but for how long we'll be able to play LP, CD, VHS, betamax, films? At what cost?
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