Do we really need anything greater than 24/96? Opinions?

For the OP’s original question about 24/96. The answer I think is an emphatic no. Hell 16/44 keeps getting better as the DACs improve over time to the point that it sounds damn good. Mind you old, poorly mastered or recorded CDs still sound like dog poo but that is not the fault of the medium which has gotten much better over the past 35 years of its development. 

poorly mastered or recorded CDs still sound like dog poo but that is not the fault of the medium which has gotten much better over the past 35 years of its development.

I don't think that the medium CD has done ANY development since it it were defined by Sony and Philips.
A fun fact is that they defined the CD and its specifications. Then the CD manufacturer needed to manufacture a CD that meet the specifications. 
But the same went for the CD drive manufacturers they need to be able to read a CD that meet the specifications..

And someone needs to measure the CD that it meets the requirements/specifications. Otherwise the media and drive manufacturers would be in the dark..

But in the end a CD from early 80-ties will play fine in all CD readers if it meets the specifications. Same same no development but today we have better clocks and electronics. So that CD will sound better today than it did then..

Wow! Did I just read that? Someone is suggesting that audiophiles start copying what teenagers listen to? OMG! Shut the cave door and back to pigmy country! 😱

optimize
I don’t think that the medium CD has done ANY development since it it were defined by Sony and Philips. A fun fact is that they defined the CD and its specifications. Then the CD manufacturer needed to manufacture a CD that meet the specifications. But the same went for the CD drive manufacturers they need to be able to read a CD that meet the specifications.

>>>>Uh, optimize, it’s not the CD that’s the problem, it’s the CD player that’s the problem. Hel-loo! There is an extraordinary amount of information on the CD. You just can’t hear it properly or completely because the CD players are all pieces of junk. Yes, I know what some of you are thinking, but my system sounds fabulous! I’ll spare DACs my wrath since by the time the audio signal gets to the DAC it’s too late! Hel-loo!

I think bit rate and sample rate are increasing because the chip manufactures like Ti and Sabre are progressing, it cant be stopped. Chips will increase in bits and frequency and oems will source newer chips as time marches on. I read somwehere that the higher bit/sample rates make it easier on the designers simply due to mathematical capabilities more room for algorithms to run.