I got introduced to Bandcamp really at the start of lockdown in 2020 as a lot of artists moved on there to get more returns instead of using a label.
I absolutely love it for several reasons:
1/. Much higher percentage of proceeds go to the artist, less outlay for them to a label or distributor.
2/. Bandcamp now have their own vinyl production service which artists can source, quality is very high and again, it’s easier for the artist to get low production runs at reasonable costs while maintaining quality.
3/. Downloadable content for albums that qualify. I tend to use FLAC downloads just for convenience, but absolutely love the fact they have WAV as an option also. But as @gedlis correctly points out and @brumtech raises, to make it a more appealing option for audiophiles, specifying bitrate is quite frankly, essential.
But I buy an awful lot of my records from smaller artists through Bandcamp, I would always choose it over another source simply because of the returns the artist gets. But the only lesser quality record I’ve had from them was through an artist called Flevans, and it wasn’t a bad quality record, but was obviously quite old and hadn’t been stored too well and hence was very dusty and needed a good clean.
Streaming wise, I get all my digital content through sites like bandcamp and others, and have a server at home with my music library on board that I stream from both while at home and when out and about through my phone.
For streaming content, I’m not as fussed about quality, I won’t do mp3, but I don’t mind too much about bit rate as I’m usually out and about or just having background music while I’m working or something. For any critical listening, I do all that on my analogue system through vinyl. As such I use Plex as my media server for both audio and movies and find it perfect for my needs.
I think though obviously if you’re doing critical listening through quality components, then you’ll greatly benefit from Roon (very expensive) or Audirvana (more reasonable) and host the server on a Mac Mini or Windows device with whatever quality DAC you prefer.