I only purchase music on CDs. In most cases I immediately rip the CD and pack it away but I want a hardcopy that is DRM free and I like having all the artwork and stuff. Lots of like minded people out there and "obsolete" formats like vinyl have made a big comeback for similar reasons.
I guess it depends on the artists you are listening to. A lot of the stuff I listen to are from smaller indie artists and smaller labels, although some larger bands I believe have done the same. But they are offering direct downloads from their websites in FLAC or some other non-lossy format, no DRM. For example, look here:
https://shponglemusic.bandcamp.com/Includes unlimited streaming via the free Bandcamp app, plus high-quality download in MP3, FLAC and more. Buy Digital Album £7 GBP
Note they have a 2500 copy limited edition vinyl record for £119 GBP but I'd rather spend the roughly $9 US for the former option. Many groups now have this available, all DRM-free, if you are willing to go the legal route and support the artist. If not, then you can get almost anything anywhere at any quality you want, no DRM. I have tons of CD's also that I have ripped but these days just buy digital. It's faster, cheaper and if I have a file without DRM that I can play anywhere I ever want now and forever, it's as good as owning it.
By the way, at least for Bandcamp sites, if you look at the source of any page, you can fairly easily find the full MP3 links of all of the tracks that are listed and download them all for free anyways. If you buy the tracks you can also download WAV, AIFF, FLAC and other formats. But the idea is to make it easy to support the artists, cut out some middle-men and especially with these smaller labels/artists they tend to have more direct relationship with their fans.
That doesn't matter -- the band's fans want the physical artifact.
And yes, there is the physical component.... I agree. I have bought CD's from certain groups even when they offer the download just to have something physical. It depends on the group, the special nature of the item, if it is collectible, has some interesting features, etc... Other times you just want to listen to it in the car or phone and couldn't care less. I suspect in the case of this Tool album, they are looking for the physical artifact and probably will not chuck it in the garbage, so it really isn't a waste after all (unlike some of those other cheap throw-away electronic display stuff we've mentioned earlier):
Not to mention it appears to be about $200
? Is that true?
I think originally it went for about $45 and now because demand-supply there are people reselling at much higher mark-ups.
By the way, I looked at a few unboxing videos and couldn't help but notice all the artwork and especially fractal imagery... there is a Koch snowflake, plus some others. This is all about having a limited edition collectible and nothing to do with the music. Probably 99% of people would not be able to justify the purchase, if it is indeed close to $200 for the album. A few people will covet this collectible which may be worth something in the future, otherwise the vast majority will either buy download/stream digital copies or perhaps a regular CD if they have one available.