There is massive conflation between the use of high data rates for (a) capturing and (b) processing.
16/44 was chosen in the 1970s as able to capture the limits of human hearing, and streaming has matured to the point that from my perspective the most popular rates for recording, mastering and streaming classical and jazz is 24/96 and more “popular” music seems to be streamed more at 24/44. This of course is for the 3%, the other 97% stream at 16/44 or less (mostly mp3).
24/96 presents no bandwidth issues, nor does 24/192 these days, but 24/192 files are a bit large for storage.
dCS developed 24-bit A/D and D/A converters from the late 1980s, for professional use, mainly working with Bob Ludwig, introducing higher sample rates, first 24/192 in 1993, 24/352 and 24/384 PCM. They also developed DSD processors for the first SACDs produced, again by Bob Ludwig.
With these many sampling rates in professional use, they (and others) developed the first digital to digital converters (DDC), again for studio use. At this time, in 2000, by accident it was found by a dCS distributor that using a DDC with a 24/96 DAC improved sound quality, so dCS released the 972 model as the first upsampler for consumer use.
Of course upsampling is commonplace these days, whether internal or external, and my own unit upsamples everything to 40/384 PCM. It is no surprise to me that external upsamplers tend to be made by manufacturers using proprietary D/A conversion (dCS, Chord and Denafrips come to mind).
The first external upsampler I heard was the dCS Vivaldi in 2013, and I was sold on what it can do to humble 16/44 from a CD.
So my experience is that you have to be very clear to delineate the benefits of using high data rates for signal processing, which can be significant, and high data rates for source files, which I’m not convinced has any benefit.