"Has too much press devolved to covering only the most expensive gear? "
It sure looks like it. People write about what they can afford, what they get their hands on. I watch a lot of youtube reviews, the midfi stuff is way more in focus there.
I bet that ~100 times more people care about 500 dollar speakers than 5,000 dollar speakers. So it’s somewhat of an anomaly that the mainstream audiophile publications focus on the 5K and up but really 7 - 25K stuff mostly