I care about lossless audio because 44.1KHz rate @ 16-bit depth has been a standard for the last 27 years. I at least want to maintain this standard - I am not interested in audio formats that compromise frequency response, dynamic range, or phase response. I appreciate convenience, but not at the expense of performance. Lossy compression is a step backward from what we have already achieved.
I care about lossless audio because I value the psychoacoustic properties of ambience and reverberation, whether acoustic, parametric, or convolution-based. Lossy compression compromises the soundstage produced via these environments (acoustic) and processes (parametric, convolution), especially in the RT-60 decay region where we theoretically "can't tell the difference."
I care about lossless audio because as a samplist, I value having full-resolution source material from which to sample, especially when those samples will undergo other post-processing, both analog and digital. This is especially important when said samples will undergo processing that introduces its own phase shifts, e.g., analog/digital IIR parametric eq, because the total time-misalignment per frequency will be enough to lead to "smear" - lack of transient response and overall imaging detail.
I care about lossless audio because I care about timbre in music - of individual instruments as well as the entire mix. This love has inspired me throughout my life to such a degree my avocation is as a sound-designer, programmer, and audio engineer. Lossy compression sacrifices timbre first - the very thing I hear, listen for, and love most in music.
I care about lossless audio because the professional standard is lossless audio. If it really didn't make a difference, professionals would use lossy compression while recording, mixing, and mastering. They do not, and it is for a reason - sound quality.
cheers,
Ian