We didn't intentionally make the switch, but switch, we did. When my wife and I got together we had a combined collection of several hundred LPs. We live in the Pacific Northwest and in January 1993 there was a major storm. A coastal redwood was blown over. It took off the entire front of our house, going all the way to the foundation, right through the listening room. For a week after the storm, there was snow followed by rain.
The house was unsafe, so we were unable to rescue much. It took out our entire system, including K-horns, a great NAD receiver, a Teac R2R, and both turntables. All our LPs were either crunched or turned to mush and the tapes were ruined, too.
When it came time to shop for replacements, we decided to go with CDs. While some of the CDs from that era were pretty awful, they almost always had poor LPs, too. But we certainly didn't miss the downsides of LPs, not to mention the fear of even a little slip ruining it forever.
As time has gone on, we went further with digital by ripping to APE or FLAC on a server and now to streaming, such that it is currently a rare event to use a physical CD. Frankly, I find the quality to be as good if not better, much less hassle, and no fear of pops, scratches, and noise as well as losing the collection again from a random event.