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?
Ebooks all the way. An eink e-reader is delightful and ever since I got a Pixel Fold I like to read on that even though it's not eink (Now if I could get a foldy eink e-reader I would be sooo happy!) because I can hold it like a physical book.
Plus, you just can't compete with being able to bring an entire library with you and the physical space savings for storage in general