The short answer to your question is simply that even the very best audio systems have a long way to go before they’ll be able to reproduce all the nuance in every aspect of the sound of live music; not only in the areas of dynamics and transient response. Your example is a good one and something that I have pointed out many times. Yes, the incredible dynamic immediacy of live sound is one of the things that differentiates live from recorded. However, the wealth of tonal complexity and texture of musical instruments and voice in live settings are also what is immediately obvious by comparison. Even the best sound systems will impart some degree of electronic signature to the sound; often and most obvious in the upper mids and highs. Some gear gets pretty close, but still………
Live versus Recorded & Reproduced Music
Why do you all think that most of the time, you can tell whether music is live vs. recorded / reproduced in a second or two even though you can't see the source ? When you walk into a bar or hear music coming from down the street or in a park, you know right away if its live & it s often utilizing less than top quality equipment.
I've heard many fine high end systems w/ top brands (as recently as the 2021 Capitol Audiofest) & in some fine audio stores that are very expensive which sound quite nice, clean, tight, extended on both ends & even image well but not really sound live which I would have thought would be the ultimate goal. High "Fidelity" means very faithful to the source. In some ways, these systems clearly are not.
The systems that I find come the closest to the live music I've heard at The Narrows in Fall River, MA (Intimate venue - rock, blues, bluegrass, acoustic) )or the BSO at Symphony Hall in Boston involve good quality horn speakers & good tube amplification despite their potential shortcomings they might have.
Any thoughts?