my two cents,

I personally buy some music from Bandcamp, and I’m pretty sure those songs don’t exist on the Apple Music catalog. So I don’t want to handle multiple apps to listen what I want.

Also, streaming platforms have the internet constraints. Sometimes, like when I’m driving, I don’t have a stable internet connection

Recompress to a lossless format (…) There is very little reason for you to do this

I though there are no reasons at all to do it. What could be a valid use case for this ?