I sorta feel the same way as you as I spent a lot of money on music when I was younger.
But, that said, those 800 CD's and 1200 LP's cost you around 800 * $15 + 1200 * $10 = $24000. That's enough to pay for 200 years of streaming at $10/mo. And with streaming, you'll get 1000x more content to choose from. So I kind understand the appeal for the younger crowd.