In my experience, the recording and mastering engineers often have more influence on the final sound than format. SACDs definitely benefit from higher resolution but I’ve heard plenty of CDs that sound just as sublime.
A great recording engineer captures not just detail, but atmosphere and intention. And a skilled mastering engineer knows how to bring that to the forefront without over-processing or compromising dynamics. Even subtle choices—like a 2 dB lift at 150 Hz—can completely shift how a piece of music feels.
At the end of the day, it’s not just the format that matters, it’s the human decisions behind the console that shape the emotional and tonal identity of a recording.