It simply shows that the vast majority of the public are not interested in audio quality beyond it sounding reasonable, being convenient and, preferably, free.
If they were SACD/DVD-Audio would have taken off long before streaming services were a possibility.
The fact that Apple still sells/streams lossy 256 kbps AAC audio but somehow has 50 million Apple Music subscribers speaks volumes for convenience of the ecosystem - I've got an Apple Music Family subscription but I rarely use it preferring Qobuz, but all family members can't use my subscription - they could do with a Family subscription.
I'd also ask is HD audio significantly better? Probably a bit better I'd say, if something's been recorded and mastered well and suits your tastes but many things sound equally poor in HD and some things in quality CD sound amazing.
If as someone who's keen on 'best' quality I can reasonably afford for audio-visual consumption, then if I can't tell night and day differences on HD vs CD quality downloads I doubt the average person is going to want to splash out for lossless or MQA 'enhanced' streaming.
I'll continue to buy HD on new material and some old stuff where possible as I feel it 'can't hurt' for the future but perhaps I'm deluded - the record companies could easily allow access to much better quality audio but perhaps it's only hi-fi junkies who really feel the need to get a 'fix' of the scarce HD audio, simply because it's hard to come by with mainstream services.
Video is quite different isn't it, but people for some reason do want 1080p/4K material. You can see why.
Beta bettered VHS but failed. Laserdisc failed - never experienced it. DVD trounced VHS picture and audio quality wise - a clear winner.
BluRay beat HD-DVD, but streaming services with HD as standard for modern TV/Movies will win out. For many new 4k streams are much in demand - because it's comparatively cheap I guess to tack onto DRM protected streams fro existing customers with suitable hardware. I probably have/had many movies on VHS/DVD and now BluRy or 4k BluRay not to mention some favourites purchased again on iTunes Store.
Quite depressing all this in many ways as unless the market leaders adopt HD audio where available or lossless CD quality audio as standard going forwards, it's hard to see how Tidal/Qobuz etc can survive.