In the case of sites like what.cd, I think that FLAC 16/44 rips of CDs and vinyl are useful for creating distributed backups of our cultural corpus. But I agree that 24/192 FLACs of vinyl are ridiculous.
I agree, in fact I very much like the sound of vinyl, but to say it's more "accurate" or of higher fidelity and dynamic range than 16/44 is completely false.