For me, when I get books I often get the cheaper paperback option, give it a read.
Then if I really liked this book, I'll donate it to a charity shop or in my social circle and purchase the hardcover version.
The only gripe I have with hardcover though is some books come with that sleeve cover around it, you know the one, bit fidgety to use when reading.
Paperback I like if there's a book I am mildly interested in and I'll just go "whatever" I'll keep it as part a collection.
Paperbacks = cheap as chips but aren't as protected as hardcover, easy to fill up your collection or shelf with, might sell it if i want the luxurious version of that book. this is for me.
Hardcover = More luxurious as it provides proper protection to the pages and outer area of the book, Often comes with items as part of a collectors set. Usually I get the same book if I really enjoy it to add as a gem of my shelf.
What are your tastes? Same as me or do you lean more heavily to one or the other?
Actually I prefer E-ink (using Kobo with Koreader).
But when I have to take a physical book I prefer to choose the paperback one, it is light, cheap and flexible.
Hardcover are nicer in a bookshelf than in my hands.