320K streaming is available on a lot of streaming services now. For those that need peak quality, there are record stores.
So... that's physical media, yes?
Just sayin', physical media ain't dead. A once largely dead type of physical media has even made a huge come-back (actual vinyl records), complete with brand new state of the art manufacturing and pressing equipment, and new businesses built to fill in the production void left by the closure of the previous production shops.
Blu-ray and DVD still sell well, or rent well like at Redbox. I've actually be contemplating adding Netflix's disc rental service to my streaming subscription. I love the convenience of streaming don't get me wrong, but it cannot handle Blu-ray quality bitrates. With storage largely cheap it could eventually go the way of gaming, where you download the entire video at BD quality or just go buy the disc. But even digital purchases online where you do download the movie, they still don't give the quality that Blu-ray has.
Physical media ain't dead, not by a long shot. And there should certainly not be any "death watch" for physical media any time soon, because there are more than enough of us who do care about quality to still buy discs. And if online services aren't offering full quality downloads, they are certainly nowhere near offering full quality streams. And frankly, our infrastructure is in no way prepared for an entire population streaming full quality movies. You might have nominal bandwidth speeds that would serve the full bitrate just fine, but that's really only true if you were the only one doing it and then there's still no guarantee.