Think how unimaginable it was that LPs could disappear when the CD was first announced. No-one had a CD player and everyone had a record player, and moreover no-one had ever changed formats in any media from books to art to music or whatever, so changing a medium was itself an alien concept. But it happened.
The CD falls between two stools as neither being the digital access-anywhere-form-free media, or the tangible piece of physical art that the LP was so successful at. Good art, paintings, sculpture, antiques, demand careful handing and reverence, and that is why the LP stands as a piece of art - because it demands reverence and care, and will get damaged and worn, thus increasing its value as a personal item - not monetary, but personal.
The CD doesn't have a role now. The CD will certainly become obsolete, if it isn't already. I myself most certainly will not replace my CD player, but end up transferring my collection onto a hard drive when the time comes.