I wanna go on a bit of a rant on the KZ ZS5 (V2):
The more I listen to them, the more I'm annoyed. You see, the ZS5 has tonnes of "raw detail" and "raw potential" but it's executed so poorly. The bass is quick and really fun, the mids are just "adequate" if not just moderately recessed and then you have that stupid treble of "DOOM!". The treble is just so loud, abrasive and sibilant. Listening to French rock music is torture, only because the "S" sound is so present in the French language.
Further, the ZS5 is the most unflattering earphone ever! It has a very bright metallic tonality that just sucks the warmth from the kick drums, string instruments and vocals out. It's like the musical equivalent of an overexposed HD passport photo that accentuates the wrinkles and makes the skin look so pale. The ZS5s are just really good at accentuating the flaws and reproducing tiny details in the music, but they absolutely suck for enjoying the music. The Marshall Mode is actually the polar opposite of the ZS5. It's a delightfully warm and balanced earphone that makes bad recordings sound good. It doesn't sound the most detailed but it sounds so good overall.
It's as if KZ bought some really good earphone drivers in bulk from an OEM and just slapped them together. Nobody cared to fine tune the ZS5s to make them sound somewhat balanced and enjoyable. I just can't bring myself to believe that the founders of KZ are an ex Audio Technica Engineer and a Classical Musician. Any Classically trained musician would immediately say "Wow! That treble is too much!". It only takes a violin, flute or brass instrument extract to realize that.
Further, it doesn't make me very optimistic about the KZ brand as a whole. Will their house sound always be this unflattering, bright and sibilant? The ZSE somewhat contradicts this trend. But it just sounds muffled, claustrophobic and congested.
Presently, I see the KZ ZS5 (V2) as an unfinished product. Perhaps someone can transform these earphones into something truly amazing by modding the max out of them. I'm thinking custom 3d printed shells, dampening materials etc...