The appropriate answer to Arnie.d's comment "Why pay more for another analog format if it's more of the same?" would be to state that Laserdisc was NOT more of the same. Laserdisc (a) delivered and analog picture that was superior to VHS. (b) It was in a relatively non-degrading format. (c) On titles that bothered to implement it, it offered AC3 encoding to consumers with AC3 playback capabilities. And (d) it regularly offered supplemental features that VHS didn't. Things like documentaries and deleted scenes.
Laserdisc was the precursor to DVD, and DVD wouldn't be what it is (or perhaps not even exist at all) without Laserdisc paving the way for it. DVD built on what was successful about LD while correcting most of its flaws. It was the first home entertainment format to offer bells and whistles.