I wouldn't call archiving a consumer application but I understand the point. Really it gets back to the word: fidelity. Some say it means "truth" but really it's latin for faithful or in the context of audio, perceptually identical (a faithful representation). Even among highly trained and skilled listeners, lossy codecs are faithful and imperceptible.
It’s maybe not a universal consumer application, but it doesn’t seem that outlandish to imagine that some of them might want to protect their personal collection. Or am I that extraordinarily attached to mine?