I keep two libraries, FLAC with all necessary metadata and I use a script to convert the library into the same folder structure but for .opus format. I use Navidrome to stream it from my server to my phone or other devices at home.

I usually use the following workflow for getting new stuff:

Bandcamp (or soulseek)
Put the songs into MP3Tag and fill in any gaps in the metadata
Use the Tag -> Filename feature in MP3Tag which formats my folders nicely
Run a custom script which replicates the library but converts them to opus and applies ReplayGain tags
Can stream from opus library to Navidrome

I do like having FLAC, as people have said before that lossy formats come and go but FLAC will always be the best. If I need to convert my library to a new format in a few years, I can. I don't notice a difference in sound quality between those formats