I doubt anyone on this thread, or site, has a shite system, so yes, it all about the recording. Why do some recording have a soundstage that goes out way past the speakers, and other are compressed to the point of almost sounding like mono recordings? Or ones that have everything coming directly from the speakers and the center is empty? Great recordings are fantastic, and it's a slippery slope from that point on down. As the adage goes, you can't polish a turd.
How much is about the recording
For myself, I'm comfortable in knowing I have arrived. At my own personal audio joy through years of empirical data and some engineering knowledge and application. I just wonder how many like minded individuals find as much joy in finding the best recordings vs the perceived next best gear. Peace.