Physical libraries still serve as a place students go to study. It's not about the books, it's having a designated quiet place along with meeting rooms and what not, in addition to computers and printers they can use.
Worth noting that some universities are giving up on the "quiet place" idea, perhaps because (like many public libraries) they think atomized society today desperately needs third places to socialize.
I travel to many universities for conferences and see firsthand that talking is now allowed in some institutions' libraries, with only a small room made available for readers who need quiet.
