Sure, shit will happen, but it's much easier to preserve digital media than it is for physical media, especially when shit happens. Disk space is cheaper and cheaper while physical space is getting more and more expensive for the most of us. Also, physical media can't be duplicated (noone will actually print out copies of those old magazines, and even if they did, it wouldn't be the same).

I know you lose the experience of paper, but that experience is limited to the few that have the actual copies. Digital is available to everyone. I see more issues with more modern media, where eg. videogames cannot be played at all anymore, due to always-online drm and requiring backend servers that the publishers are shutting down (so even pirate cracks cannot help). For comparison, you can fit the whole NES and SNES library on a usb stick with space left over.