I think it's hilarious that Sony was so scared of Bluray failing and becoming another Betamax that they basically bought out any future from under HD-DVD which probably would have been more successful (like VHS).
In the end, streaming won the day and Blurays are already a thing of the past.
To be clear, the first Blurays were coming out in June 2006, Netflix began internet streaming in January 2007, barely six months later.
Blurays are still way better than streaming though, especially the UHD ones. Bitrate is always way higher and the audio is noticeably crisper in my opinion.
I still regularly buy Blu rays, but it has to be for a specific kind of film or one of my favourites.
There's caveats to that these days. Official streaming, in practice, sure. But with a debrid/similar service and sufficient bandwidth, you can pirate stream files with equivalent quality to uncompressed Blurays
I wonder what their answer is going to be for Dolby Atmos? I am sure they could think of a another protocol that is just as pointless for your standard TV sound sticks.