I remember ripping my CDs to mp3. It took me an entire weekend and broke the DVD drive on my then-new laptop* It was time-consuming in annoying way because the rip of each CD took < 5m. Long enough so there was 'idle time' in the task itself, short enough to not really allow you to start doing something else entirely.
There's no way I would want to go back and re-rip them. Too much effort for too little benefit. I might consider buying them again before I did that.
FWIW the handful of CDs I've bought in the last few years I have ripped to FLAC (as well as mp3).
(*not completely, it would still read DVDs, but after ripping > 200 CDs it no longer read CDs)
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