Now I can’t play either CDs or LPs since I don’t have a player.
Sure, but you still own that music. You can buy a player at any time and play them. You can take them to a friend’s house and play them there. You can even rip all your albums to digital files and copy them to your flash modded iPod.
In terms of durability, both CDs (pressed, not burned) and LPs will last a long time if you take care of them.
Youtube, Spotify, and Amazon offer convenience, but that convenience comes at the cost of your freedom. You are not permitted to do what you want with the content you paid for. You must also understand that you will lose access to that content at some time, occasionally without warning, and that time may be closer than you think.
The best of both worlds are DRM-free marketplaces like Qobuz, Gogs, and HDtracks.