For me, when I get books I often get the cheaper paperback option, give it a read.
Then if I really liked this book, I'll donate it to a charity shop or in my social circle and purchase the hardcover version.
The only gripe I have with hardcover though is some books come with that sleeve cover around it, you know the one, bit fidgety to use when reading.
Paperback I like if there's a book I am mildly interested in and I'll just go "whatever" I'll keep it as part a collection.
Paperbacks = cheap as chips but aren't as protected as hardcover, easy to fill up your collection or shelf with, might sell it if i want the luxurious version of that book. this is for me.
Hardcover = More luxurious as it provides proper protection to the pages and outer area of the book, Often comes with items as part of a collectors set. Usually I get the same book if I really enjoy it to add as a gem of my shelf.
What are your tastes? Same as me or do you lean more heavily to one or the other?
Personally I'd like me some blend between paperback and hardcover.
Paperbacks can be laid flat (but damage quickly), hardcovers not as easily (but don't damage quickly).
Something like a concealed Cased-in-Wire-O might be best, but where you don't really see the spirals between the pages.