I suppose we both have version 2 and yet we seem to have different IEMs. Exaggerated subbass? Certainly not for me. Recessed mids? Not at all, on the contrary detailed (as rarely in this price range) and in the right proportion to the rest. Sibilant highs? The highs are indeed maximally extended, but thankfully without ssssssibilance.
Summary: either inconsistency in manufacturing leads to unacceptable variability, or we both perceive the sound diametrically differently.
Note: And I'm really pissed at KZ for unfairly making changes to the original HBB-tuned version.

@4ceratops this is just my experience with it, the irregular treble with it's dips and spikes are just a pain to listen to. It's not a treble Canon, just an uneven mess of a tuning. My copy may be bored I dunno

This IEM does not sound like this description at all when I tested the copy of a fellow head-fier using both a tiny DAP and strong amp. Just a well-tuned and technical sounding IEM. Your copy might be botched or a revision? My friend's unit was one of the firsts.