Well my understanding from the OP's post (which is the only meaning I took from it) was that he wanted a physical alternative to having CDs sitting on shelves.
To the OP: I cant speak for the two alternatives you've mentioned, but the Innuos route is probably about the simplest and best alternative out there if you want to retain the CD quality of your existing collection. All you have to do is get it out of the box, plug it in, and start feeding it CDs, and you're well on the way to a digital FLAC based music collection that can be enjoyed anywhere in the house. Any missing or incorrect metadata can be corrected using a web browser via a phone or tablet (others rely on bottling up a laptop or PC). It also supports the MQA sound format, and allows TIDAL streaming too, the main music streaming service for high quality music (as well as Qobuz, Deezer and internet radio). I've been using an Innuos device for over a year and a half now, and it has been excellent in every respect.
One alternative, depending on budget, would be the Bluesound Vault 2. A stand alone CD storage device that will not only allow streaming to systems around the house, but will also plug directly into a system via a number of different connections (the Innuos is limited to USB output). This too supports the MQA format, and also allows TIDAL, Qobuz, and Deezer, but also allows Spotify, Napster, Wimp, amongst many more.
Both of these manufacturers offer excellent back up service and regular, simple software updates to stay on top of things. These two options are just so simple that no disadvantages come to mind. I suppose if you really had to push to find one, the Innuos is cabled ethernet only, but there's ways around that if the need is great.