Huge fan of smoked paprika here! I use it to give lots of dishes a boost of umami without having to add a meaty ingredient like smoked sausage or bacon.
Smoked paprika in braised greens and on top of hummus are two of my favs.
I store paprika in the freezer for freshness. If paprika is stored in the spice cabinet too long, I find that the flavor can go off. Not sure if you could call it rancid, but stale paprika is not pleasant and you’ll know it if you taste it.