Some musings from my side:
I am using streaming setups for about 10 years, after having owned a long series of CD players from NAD, Harman-Kardon, Denon, and Cyrus, all of which developed transport problems after several years of intensive use.
I initially started with a trial installation of Audirvana on a MacBook, connected via Toslink to my SuperUniti at the time, and right from the start it sounded better than CD playback. That was about 10 years ago.
Then I tried a variety of combinations of hardware, software, and networking technology, and today I use a Melco N50-H60 as a source, connected directly via USB to my Technics SU-R1000 digital amplifier. The network side is built around a Melco S100 switch and Melco C100 as well as Furutech NCF CAT8 cables.
On the software side, I use the current Linn app and, more recently, JPlay. I have also heard good things about Bubble UPnP (for Android devices), but I have not tried it myself.
In my opinion, CD and streaming (and here I mean local streaming, i.e. within your own LAN) can certainly be compared, but ultimately it is just as endless a discussion as the comparison of whether digital or analog is “better”.
As so often, it depends on the details of the implementation, and the higher your quality expectations rise, the more these details matter.
A high-quality CD player will also not reach its full potential if you place it directly next to a microwave oven, use poor cabling, or connect the power cable with reversed polarity. It will also not perform optimally if you use dirty or scratched CDs, and so on.
However, these errors are more obvious than the potential pitfalls in streaming. Here, it is worth taking a closer look at the software configuration and, above all, the network setup in order—as has rightly already been mentioned in this thread—to reduce influences that degrade sound quality. A lot had been written in this forum specifically about this point, and I do not want to repeat everything here. I can only say that with my setup I have achieved a truly convincing playback—for my personal taste—but of course, there is always room for improvement.
Personally, I use streaming (Qobuz) to stay up to date with new releases, and my purchasing behavior is such that I first check whether I can get an album as an HD download. If it is only available in CD quality, I very often buy the physical CD. Exceptions are downloads that include a booklet, which I then prefer. In my opinion, downloads in CD resolution sound comparable to ripped CDs, but you have to be careful to make sure you are really comparing the same mastering version. Unfortunately, this aspect is often overlooked.
For me, operating the app is exactly like physically accessing a data medium: I select an album, start playback, and put the tablet aside—I have never understood this point of discussion (also from other threads). 
Finally, two additional remarks about the Melco servers and apps:
So far, I have not been able to detect any sonic difference when using various apps (from Melco, Linn, and JPlay).
The chassis quality of the Melco N50 series corresponds to that of the old N1 server and is certainly not as massive as the N100 or higher series from the manufacturer. However, for me, something entirely different is decisive: My N1 server was in daily operation for almost 8 years until a few months ago—and without a single problem. It is still running today; I use it as a backup device. That was the reason for switching to the newer N50 generation. Beauty was not a deciding factor for me at this point.
I wish everyone here in this forum a lot of enjoyment listening to music, regardless of the medium!
I sold my LP12 last week to get budget for a better config this summer, thought I could live solely with cd player for half a year. But in the end lot of great music from 70s 80s are best with vinyl and I miss it.