Asiufy,
At one hand I agree.
But an audio collection can be large.
You probably have it 3 times: your working set, the back-up and a back-up outside your home.
If e.g. FLAC reduces size with 40% one sure has a performance gain.
The major reason I use FLAC is because it has a checksum, you can check the audio files for corruption and unfortunately, sometimes they are.
As far as I know, there is no other format supporting this checksum
Besides, I don't hear any difference between WAV and FLAC and I doubt if the ones who claim they do, would be able to hear the difference in a blind test.
I'm afraid a lot of perceived differences are a matter of listening with ones eyes.
