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Music CDs seem to be going out of style only because users are pirating and getting the music by illegal means. In my opinion DVD's will be a thing for quite some time and I don't think CDs will completely cease their popularity only because a lot of people have burnt CDs. In my opinion this will probably be a thing for a while. The thing about Netflix and services like that replacing DVDs is the fact that they don't have that much of a selection of movies compared to what's out there but I see your point regardless. In my opinion this will continue to be something we use but may go out of style before too long.
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I like owning a physical copy of things I like, especially when it comes to music. Also, artists get more money from you if you buy a physical record from their instead of just streaming through the album a couple of times. So, if you'd like to support (especially local) artists, I think one should buy a CD or a vinyl record.
I collect vinyl records myself, and got around 50 of them. It's nice to be able to have them physically in a room, because that heightens the chances for me actually listening to whichever album was my favorite four years ago.