I originally used Spotify a long time ago before switching to Premium again from YT Music. I mainly liked the fact that it supported third party clients ( I got a low overhead terminal based client on Linux setup that supports proper keybindings and Spotify connect as well). I also liked the fact that it had a good Wear OS app better than ironically, Google's own offering.
Sadly, my positives end there. The Wear OS itself had a giant bug for me where songs wouldn't add to custom playlists (they would add to liked songs, but not to any custom playlists NOT at the first position). Also, for some reason, there is an outstanding bug on Spotify Forums relating to Bluetooth multipoint that causes playback issues dating back to 2020 which has not been fixed till now.
People wax poetically about Spotify Wrapped and other services like YT Music have copied it in form of Recap but since I use Last.fm ; that did not play a significant factor for me. What I wanted was customizability. The simple fact that I can't remap the plus sign to say, add songs to most recent Playlist instead of liked songs is a downer (YT Music does better in that regard).
Other services are fast catching up. Google bundles YouTube (or the other way around) for little more the price (in my country Atleast) and gives Music service. Apple offers lossless audio(though ironically Apple's own Bluetooth offerings can't stream it).
Spotify does have the advantage that it has a partially open API and many third party apps/services can take advantage of it(and many have been written around it) though a part of me wishes that just like there were third party clients for Spotify on Linux/Windows, something like that existed on Android as well. All in all, I personally still have not found any streaming service (Tidal included since I used it once somehow) that rivals the simplicity of locally stored music.