The death of ultra hiend audio

I'm sure there is no single answer, but I think traditional high end audio faces difficult challenges based on generational differences. We baby boomers grew up with big stereo cabinets in our homes, and audio stores on every corner where you could experience high end audio and see what you aspired to own someday.  Our youth was a time when music was at the center of, and was the voice for huge societal changes. Music was front and center-not wallpaper.

I suspect baby boomers have been the backbone of the high end market for some time. The baby boom generation was huge in terms of raw numbers compared to those that came before. Unfortunately, we boomers are old now-more and more of us are trading our multi box systems for harp music, or downsizing our living situation.

In contrast, my kids grew up with ipods and mp3 players and all their music in a device they can carry. Audio stores had largely disappeared, lots of that generation have never actually experienced what we call a high end system. They see headphones and iems, not amps, preamps, 200 pound speakers and endless cables when they shop for music. Consequently, most younger folks don't aspire to complex systems with 10 boxes and miles of cables for what is mostly a solitary pursuit- they want simple and/or portable. There are exceptions, but if high end audio is to thrive it will be forced to adapt to different demands as the generational changing of the guard occurs. You can see some companies starting to grasp this and you see more and more simpler, one or two box solutions, or no box all in one systems. The companies that can adapt to changing consumer tastes will be ok and those that don't will find themselves competing for the business of an ever dwindling group of geezers.     

Being an ex audio dealer ,I have seen cables marked up 10 x the actual cost .

these Big name companies charge up to $500 an hour for their Ego in R&D 

I have seen inside $80k amps literally under 10k in parts $25-$30k 

I can see in markup not $80k,

look at, Wivac, DCS , these Waay over priced companies  will find they

will be far and few between in sales Audio research got cheaper in quality ,more fancy badging faceplates, in all honesty it’s under the hood That count most .

look at some of these speakers ,an extra $10 k for roasted wood , or slate cabinets 

most people  want to  be practical , these $10 k power cords , and $30 k speaker cables that are worth maybe $10 k   Are losing  now most people can no longer afford these vastly inflated prices. And just want high quality and value for their $$ monies .an end of an Era  to all but the wealthy . Just like the other day in TAS a $300k turntable. A bargain really , insanity . I love music but not at That cost .

I could own 3 excellent Audio systems for that cost !!

I recall in the late '80s, decent money in my pocket for 30-something, standing at a magazine rack in a bookstore, a copy in hand of Absolute Sound in its original small format with minimal advertising, browsing a review of ARC's latest $10K VT monoblocks, William Z. Johnson remarking in that review that although he could build a better amplifier there was no market for a more expensive amplifier, a stranger approaching who recognized the magazine and striking up a conversation about our systems...

All gone. Now it's a queue at the Apple store and when the buds come off, CarPlay and podcasts.     

I'm always curious about who purchases audio at this price level. I presume a certain percentage are 'true' audiophiles, therefore, longer term journey with incremental system upgrades. I also presume many not really audiophiles, audio systems just another show piece for displaying status and wealth. 

@kerrybh 

You have summed it up perfectly! My cable guy, a young man in his 20's, installed my TV stuff one day. Upon exiting he passed my audio system and remarked, "What is all this stuff?" Upon explaining that it was my stereo that I had been ever changing since I was a kid (now 65), he laughed at me. He showed me his phone and told me his stereo was right here. Fewer and fewer people want this stuff, and more and more people are dying off who have it. Supply and demand, and the insanely priced companies are the first to go, but there will be more.