I think that we have reached a point where it is fine to consumed media as it is now, personal view.

"Hey, there are these two copies of a song, one was digitally filtered and does not contain all the detail, maybe you can't hear the difference, they're same price/speed/storage which one do you take?" Everyone takes the lossless.

Start introducing different cost (in download speed, storage space, whatever) and peoples choices start diverging.

But as the cost fall and become more identical between lossy and lossless, people will be more partial to lossless on principle alone.

Give it 10-20 years, there will be head-fi streaming services offering lossless movie streaming.

But there had been good research on using neural nets for compression and decompression, and I expect the next codec to have massive improvements over these formats.

At least ony bubble, the standard for audio is still lossless: I'm fairly sure 99.9% of all audio i consume is using something lossy:streamed over Spotify, in movies like Netflix, clips like YouTube, video Chats... Is that just my impression and technology moved to FLAC without me noticing?

So I believe we must still strive for a degree of storage efficiency.

To put it differently, you'll never optimize your way ahead of ten million people watching cat videos.

Not even they can afford lossless capture. Because while storage capacities do increase, so does the used video size, bit depth and framerate, and number of takes.