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The reason you haven't noticed a problem with playing music is that music from Apple no longer comes with DRM applied, and will work whatever Apple ID you're signed in with.
However, you will find that you have lost all your purchase history and you will not be able to re-download any of your music if you delete it.
However, ebooks from Apple almost invariably have DRM, and can only be read on a device signed in with the AppleID used to purchase them.
I urge you to try to recover your old AppleID.
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