Around 40 years ago, when people just started in on Hi-Fi, the goal of power amplifiers has to have a THD of below 0.1%. However, due to recent advancements in technology and refinements in material, the distortion of amplifiers continue to decrease. A small op-amp today can achieve what humans dreamed of 30 years ago, which is "high-fidelity". Imagine how a little chip, operating under normal bias, can have both the THD and IMD lower than 0.001%, even 0.0001%. This was unthinkable 30 years, even 20 years ago.
One day, suddenly, Hi-Fi manufacturers found themselves not being able to make money off technology, because advancements in technology has rendered "low distortion" worthless. Whatever little cover they had was blown. So what they did was to invent metaphysics and pseudoscience, lauding subjectivism (that's a word, Firefox) and listening impressions to swindle money. Deep down, they know very well that only this play can let them sell their crap at stratospheric prices. Strictly speaking, today's "high fidelity", especially amplifiers, are full of distortion. The manufacturers call this "sound signature". However, subjective hearing varies vastly from person to person, so no matter how bad your stuff, there's always somebody who likes it. Which is why there are so many Hi-Fi manufacturers, and they can all manage to survive.
Unfortunately few people are brave enough to attack and debate such absurd claims. Sound itself is very low-tech, and all those with real skills would never work in analog audio, such a dead-end domain. They'd choose communications. Audio designers are mostly (but not all) not very skilled, grand masters such as
Douglas Self are quite rare. These designers do not have correct judgment themselves: they are misled by erroneous claims themselves, and they in turn mislead consumers. The consumers, of course, know even less: they'd believe whatever the manufacturer tells them, and they will tell such things to their peers, and such these hilariously absurd claims can keep circulating.
Right now, be it Hi-Fi equipment or high-end cables, it's all about distortion. As audiophiles amuse themselves in their bubble, they are perceived as insane by everybody else. People can identify minute changes in sound, but "changes" don't equate "better". And that's how the game is played: in these cases, people will go for the more expensive models, and such, manufacturers of high-end cables and audiophile isolation feet continue to successfully swindle wads upon wads of cash. In short, today's equipment shouldn't be called "Hi-Fi", but "Audiophile", because they do not retain high fidelity at all.
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