What are we really trying to replicate?

Two questions:

(1) At what point does the level of an audio system exceed the level at which it was recorded and/or transferred to media? Does it make sense to spend thousands of dollars to reproduce a record that is mass produced?

(2) When trying to replicate a concert, can speakers actually sound too good? I doubt most concerts have a equal level of sound quality compared to the systems represented on this forum, so is there a case to simply build a system that plays extrememly loud? How much unamplified live music (think symphony) is really available?