But not everyone keeps all their old software on the original CDs. This is the point: the decentralization of the distribution mechanism meant that everybody was free to use different methods of storing them. Even if everybody was restricted to keeping stuff on the original CDs, the chances of
all CDs failing is a lot lower than any single one failing.
FWIW, I don't have any CDs (including cheap CD-Rs burnt over 12 years ago) that I can no longer read in any CD drive; some aren't readable by some drives, but they are readable by other drives. But I've since moved the small amount of data on them (and it is small, by today's measurements) to my file server, which is both RAIDZ and backed up remotely.