Do you belong more to souce first or to speakers first school of thought ?

Good source will sound better on mediocre speakers than mediocre source will sound on good speakers. And FWIW, there are some pretty damn good inexpensive speakers out there. Let's just call it at $1000 per pair tops and that you've got an average size room. I'll start with Monitor Audio, Polk, even Revel have very respectable offerings.

I’ll go with speakers,  but as someone else mentioned previously, I would put a lot of consideration into the room and what type of speakers would perform best in that room.

I’ve followed the path of source first. Better pressings/recordings..

And even with my first turntable, the first upgrade was the cartridge.

Then often the speakers, then amplifiers, room treatments and then back to turntable again.

But speakers are the soul of a system and in this sense they are always the most important element.

If the source is terrible then nothing matters and the same is true for the speakers. That said I think the variance in speaker quality is more impactful than the source. I focus on speakers first. I have Sopra 3 speakers and they contribute the highest single cost of my 125k system. So as you can see there are many other contributions to the total. I have vinyl, CDs and streaming so this is a multiplier. Also cables make up about 22k of the system. It all matters. Then there is the influence of the room. If it is a bad room a lot of the effort will never pay off.