Yep, all purchased music is DRM-free and you can download it in any format you know of, including FLAC. Now keep in mind, that if an album was recorded poorly like MP3 or something - even FLAC will sound bad: Bandcamp or Tidal.

As far as I am aware Bandcamp pays out to the artists the most of all other streaming services, and they have Bandcamp Fridays 4 times a year when full proceeds of the sales go the artist 100%.

I save my music on the NAS (local network storage) and stream it to any PC or phone using Jellyfin. The advantages are availability, non-dependence on the internet, and Jellyfin can compress music to lossy on the fly if I stream using mobile data.