This is not actually true. CDs still account for the lion’s share of physical media music releases. Vinyl’s relative increase in popularity has led to many media reports suggesting it is more popular than CDs—and that may be true in the sense of the “coolness factor” but not in actual sales of new releases. For one thing vinyl is MUCH more expensive on average (largely owing to very limited production capacity as almost all presses were gone and there still isn’t nearly enough to surpass CD production) and for another, relatively few people actually have turntables (which are also frequently expensive).
Besides which, vinyl is objectively inferior in every measurable, physical aspect to CDs in music reproduction with equivalent masters. Any better sound quality from vinyl over CDs is owing to the quality of the master used to make the respective releases. The physics of the this statement is beyond doubt. New releases are almost always from digital masters, so vinyl starts with a disadvantage anyway.
The psychological effects of “playing the vinyl” version of a recording, with its tactile features especially, are well documented but the sound quality issue is not among the benefits (again, as long as the same masters are used).