You seem to be ignoring the fact that the "purchaser" already bought a license to listen to the songs, which is the lion's share of the cost of physical media. Content Shifting from one physical media format to another, for personal use, is already protected under Fair Use, though companies try to block that with DRM.
For what you write to make sense, the music companies would have had to give a steep discount on purchasing a different format, because the individual already owned a license for in-home use. There is no reason but greed to charge a person three times for something they already bought a license for.
You used to see this with software where once you bought a license, you could buy replacement physical media for a nominal fee. It was the license that counted.
The one time I bought a CD on Amazon years ago, I was immediately given access to all of the mp3's on the CD, proving that it's possible to do this in a cost effective manner and the main thing was the license.