Agree with everything you say, but I would also add that the interactions with compression and other lossy signal processing that is frequently performed is not well studied. For example, when using Bluetooth headphones, it is likely that the music will be equalised/normalised, resampled to 48Khz (for mixing) and then re-encoded to a bluetooth codec e.g. LDAC. It is much safer to start with FLAC, if you cannot avoid such a signal chain.