Sure everything wears with age. Genetics come into play how resilient ones ears compared to anothers the same age. Usually high frequency is lost unless you have been too close to a sub woofer too often. Just build speakers to suit your ears or buy some that compensate for what you lack. Good headphones may be the answer.
The Absurdity of it All
50-60-70 year old ears stating with certainty that what they hear is proof positive of the efficacy of analog, uber-cables, tweaks...name your favorite latest and greatest audio "advancement." How many rock concerts under the bridge? Did we ever wear ear protection with our chain saws? Believe what you will, but hearing degrades with age and use and abuse. To pontificate authority while relying on damaged goods is akin to the 65 year old golfer believing his new $300 putter is going to improve his game. And his game MAY get better, but it is the belief that matters. Everything matters, but the brain matters the most.