"That" has a little wiggle room here, but the answer is still probably no regardless of what you mean. The Internet Archive's goal is to provide universal access to all knowledge. This is not the goal of the LOC.

Supposed according to whom?

Believe it or not, the official role of the Library of Congress is mostly to be a library serving Congress.

Their website says "The Library is the main research arm of the U.S. Congress and the home of the U.S. Copyright Office."

They do keep copies of things registered for copyrights, for copyright purposes.

I don't believe there is any legislation or funding to give them the role of finding and preserving 80 year old 78s en masse.

What.cd was more than an archive of nearly all recorded music, both analog and digital. It had some of the best collage lists and recommendations I have ever seen. None of the child sites came even close, but some are promising.

It was truly one of the best ways to discover music because behind each recommendation was a human that were both enthralled you were interested and would tailor their recommendations to suit your tastes.

Spotify use to have humans curate their playlists and during this time is was almost as good, but since they've moved to ML models recommendations have gone to truly awful now.