Or you store them away because once you've ripped them, you no longer need access to the physical item. So there's no point on having them using up the valuable space of the living room.
I do have all the Blurays. They're collecting dust in the garage ;)
My kids are only 3 and 2. They would probably destroy the disks and the player in no-time. Also: I don't have a Bluray player connected to the TV (apart from the Playstation, which I definitely don't want them to fiddle with yet). I use an old computer to rip the discs.
I might let them use the discs when they're a bit older.
But why not just have them handle the blu rays directly? Unless - you ripped them to your Plex and resold them…