Look into the Domesday Duplicator project for Laserdiscs as an example of how what ssl-3 is talking about can be done using a high sample rate input. That exact process is possible and with enough storage and processing power can be used to get the most "low level" access to the data. It is not for the faint of heart though, and can take around 1TB of storage and hours of CPU time to process full movies in this way, I know because I've done it.
I believe I've seen there is work being done to attempt this on CDs but it would have still been in the exploratory phases and not yet ready to start archiving with. It might seem like overkill to do this to something meant to be digitally addressed but I've experienced enough quirks with discs and drives when ripping that I would 100% be willing to switch over to a known complete capture system to not have to worry about it anymore. Post process decoding also allows for re-decoding data later if better methods are found.
I believe I've seen there is work being done to attempt this on CDs but it would have still been in the exploratory phases and not yet ready to start archiving with. It might seem like overkill to do this to something meant to be digitally addressed but I've experienced enough quirks with discs and drives when ripping that I would 100% be willing to switch over to a known complete capture system to not have to worry about it anymore. Post process decoding also allows for re-decoding data later if better methods are found.