I have a mixture of new, used and vintage equipment in my entry-level system. My listening space is the exact opposite of what an acoustically appropriate listening room should be. I am also approaching 70 with some hearing loss in my right ear. And despite all of these audio limitations, a well engineered and produced recording will stand out and be a joy to listen to. I find this slightly more obvious on analog recordings, but good digital recordings are obvious even streaming via Blue Tooth.
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.