At first (especially some years ago when the catalogue was much smaller) this used to annoy me. But Spotify has made a lot of progress in side-stepping the issue.
The Discover Weekly playlist of recommended music in particular was a great invention. It doesn't matter that much if artist X's latest album is not on Spotify, as long as they can find some other music that satisfies what people are looking for. Some techno with no vocals to code to, something chill in the evenings, like a personally curated radio, not a perfect on-demand player.
Focusing more on recommending music instead of having people search for music means that they get away with missing some artists - and they can take the cost of licensing deals into account when picking the recommended songs.
Thumbs-up or thumbs-downing songs in a radio playlist will change the songs that show up, but I find just having a seed playlist is more reliable and repeatable and easier to fine-tune.
1) Modern contemporary electronic music, which is usually available vinyl only.
2) Classic albums in their original form. When there's a remaster, Spotify typically only has the remaster, original was either never there or will be removed when remaster is out.
Now, when you start to invest to your sound system even a bit (not talking about 100k wires here), you notice the lack of dynamics in many remasters. The originals just sound better with good soundsystem, not so much with below-average systems.
When I listen to music, I like to have the best possible master from it. And preferably lossless, or that I have the control of the compression parameters and format. I guess Spotify will take the masses, but I'm not the only serious listener who prefers my own files and physical copies.
Streaming is handy, but you can do a lot of things already with big hard disks with your computers, some syncing NAS system (as in Synology), beets[0] and a big enough microSD in your phone.
[0] http://beets.io/
PS - I've been collecting vinyl for over twenty years and consider it my one serious vice. This comment is the equivalent of a drug addict suggesting that you "just try it once." You've been warned...:)
Yes, now I need to get CD's to have the best mastering, rip them to flac and opus and put the CD's to a box collecting dust. Or in some cases I need to buy the vinyl, record it to flac and opus and maybe play the vinyl a couple of times more when I do a house party.
Waste of resources...
Oh, the irony.
Audio compression is an old technology by now. Lossless CD audio is ~1200 kbps, and we're only compressing to something like 1/4th the original size. There really shouldn't be much room for error. Even completely lossless CD audio compression can still get to ~50%-ish of the original data rate.
Imagine if you had H.264 video at 50% the data rate of a completely lossless signal. That would be completely perfect.
And if you're listening on a speaker setup, your room will distort the sound orders of magnitude more than compressing an audio signal 4x will.
But if I own music, FLAC is the proper format. I can go into any other format from it and re-pack my whole collection in the matter of minutes. Buying and storing content in lossy format doesn't give me this freedom.
And even if Spotify Vorbis sounds ok, it doesn't change the fact that many records in there have a very bad mastering and no other versions at all. Which was my original point here.