If you are spending thousands of dollars on a home theater, surely streaming was a no go from the start? Blueray is the only available option which has a chance of delivering the optimal experience.
A lot of people, myself included, are fine with “less than optimal”. Sure, I’d prefer a blu-ray for my favorite epics, but a great home theater system also makes streaming content a satisfying and convenient experience. There’s also a lot of content one wants to watch that never makes it to blu-ray
Blu-ray is not raw, it is just HEVC with a higher bitrate. Most content encoded at a high profile level is not even going to hit the bitrate limit of a good streaming service + connection. Other than pausing during an action scene to take a still, I can’t perceive the difference.