Ooops on loossless :-)
Anyway, what I'm really trying to say is that it boils down to whether you're a casual viewer who doesn't really care or a film enthusiast who can appreciate high quality film presentation. If you're the latter, in the 80s you would have bought LD over VHS and now you'd buy BD over DVD.
And it would also be good to point out that unlike other formats such as Betamax or CED, the LD format lived happily alongside VHS for over 20yrs. I wouldn't call that a failure.