I think you hit the nail right on the head. Its good, but not as good as the best possible sources. But it is good enough to provide me with significant musical enjoyments, especially given the fact it allows me to have access at my fingertips of all kinds of music that I otherwise would not be able to try without buying it blindly. That to me is on its own enough reason to subscribe.
But certain;y when I do find an album that really speaks to me I will search it out on the best possible physical medium, which in my house usually ends up being vinyl.
I don't know of many people who would be inclined to get rid of their record and/or CD collections just because Qobuz was around, but the service sure makes a great overlay on top of you existing physical collection.
Let the games begin!!!