He is wrong about a few things.
The 'bullsh' 'cheap' headphones actually sound pretty good these days. I am shocked by what I hear from a cheap pair of hifiman headphones these days.
My area has lots of 'younger' hometheater dudes, diy'ing their subwoofers, room treatments and all that... very enthusiastic crowd, the energy's all there....and guess what? Their stuff sounds pretty good, quite entertaining and it works for the different things they like to do, watching movies, listening to 'young people' music, playing 'call of duty', etc.
Why would they want to deal with some monster one trick pony hifi rig that doesn't even sound all that good...
It's a cultural shift. Hifi 'purism' killed it all, imo.... Deal with it.