Does compressed audio really need to exist anymore(music)?

[richteer]

Certainly, lossy compression (in the form of MP3, AAC, and so on) for music needs to die.

Lossless compression still has its place, I think, for online music distribution, although I personally would choose uncompressed over lossless compression any day. As you say, there's no point spending mega bucks on a decent audio system if all you're gonna play through it is crappy MP3s and the like.