Once you have compressed the RIP with a lossey method like MP4 you can NEVER get that quality back without going back to the original and re-ripping it again.

On your setup today you may never see the difference, how about in 5 years on a giant 4K screen? It may show then. 1080P will always be 1080P, it will never look better on a higher rez device, the compression that it uses may be able to be seen.

I have not experienced this on my video files yet, although audio CDs I ripped back in the 90's at 64k sounds pretty crappy today compared to 128 or 256 or a raw file on a quality stereo or playing device with quality headphones.

So, you have to decide, space or future proof quality? Me? I pick space and rip all my stuff to H264 and sometimes H265. I may regret it in years to come but for now it's what I do. Looks fine to me and sounds OK too. I've never been a audio / vido - phile anyway and my vision and hearing sucks anyway.