The fact that high quality manufacturers don’t use "audiophile grade" cabling internally is not a definitive answer. I once got involved in a "speaker geek" conversation with the owner of one of the most successful speaker companies in recent decades. After a nice exchange of thoughts on speaker design he said (referring to cabling, connection methods, etc): "I get all of that. I just don’t want to argue with my engineers over it."
There are legit SQ design elements that go into equipment that may align with production efficiencies. Most often, they do not. There are also considerations service. In-field service board swap via detaching ribbon cables beats desoldering or sending a beefy chassis in 2 directions (including the risk of freight damage).
As others have stated, ribbon cables are often used for sending data, control, and lighting up the front panel. Sometimes low current power is sent to energize circuit boards. In the case of a streamer we "hacked" a while back, we eliminated the ribbon cable and direct silver soldered good cabling directly to the circuit board. Not an easy task. It got a little crowed in there. The SQ improvement was significant.
So, it depends on the use of the ribbon. Power delivery matters. Even if current demands are small.