I too am wary of terms like "reference" and phrases such as "state of the art", but when used by an experienced reviewer, who I have followed over the years and who subsequently purchases the item for use in his/her review system, this certainly carries more weight for me. Hyperbole is the stock in trade of some reviewers.
What are the current useless terms in this "audio world"
Throughout the history of marketing of all kinds of consumer goods there have been many useless, hyperbole phrases and words used. It seems on ebay, here, craigslist and others a current pet of Sellers is taking something to "the next level".... which sounds like a great marketing term for an elevator maker.