In my case, I let my family and close friends access my Plex server so there's a little more value than just for me in my personal view. Most of the draw for me is that watching my version will be a higher quality experience than streaming it from some provider and I covert all of the MKVs to H265 at a medium-high quality which allowed me to take a couple 6TB drives out of my array, putting one as a hot standby and the other to my backup NAS.

But to play Devil's Advocate, when you're deep into a movie, you're not really paying attention to the video quality....

But in reverse, the version I bought and put on Plex can never vanish one day due to ever changing license agreements which has burned me more than one while in the middle of a TV series.