If you want to pump badly recorded junk down an iphone or similar I'd agree. If you want to pipe through a decent hi fi there is a difference but again depends on source recording. Cynical though I may be but I reckon the music industry doesn't care about the recording quality as much these days as they know most of their audience will feed it via a cheap pair of phones into an uneducated ear.
But we are all entitled to an opinion of course!
I personally can't tell difference between FLAC and WAV so rip all my stuff to FLAC as it saves lots of space on my NAS drive and tags are easier to edit. However also rip to MP3 for my dear lady's Galaxy, to entertain her at fat fighters, oops, sorry, the gym1
Also feed Spotify through my system and again, depends on the artist/recording some stuff streams really nicely, some not and Spotify is basically MP3 quality. Tried Napster though also which I thought was pretty poor in comparison