The problem is that it’s very hard to do so either legally or affordable and often both.
On the prior point of is it affordable, local storage is not just affordable, but is now cheaper than a subscription.
DVDs of new movies are £10-15 in the UK still, shows are much more than that if they even get a DVD or a non-digital release to begin with.
Unless your content consumption is low it’s going to cost many multiples than what even paying for 2-3 streaming services does per year.
You're right, the newer stuff is difficult if not impossible to get a physical copy of. I just don't bother. I go see a movie in theaters every now and again but I'm 500% done with modern streaming platforms.
When you are looking to get content for children it becomes even harder and more expensive.