Probably like everything else, there is no 'definitive' answer. Poorly realized switching power supplies will be 'trash', well-realized ones will sound much better. So, for example, David Berning's amps use switching power supplies, and while some may not like the sound, I daresay no one would call the amps 'trash'.
BTW, I assume we're talking about the same thing, my 'switching power supply' is your 'switch mode power supply'.
BTW, I assume we're talking about the same thing, my 'switching power supply' is your 'switch mode power supply'.