Many of the comments offered mirror my opinion. Let me add, I observe that for the many who could spend money today, their easy and ubiquitous access to “a vast library of music” is a higher priority than “hearing quality” of the same music library. They spend money elsewhere. Plus, little patience for hearing old people talk nostalgic about their favorite “equipment.” I sold lots of stereos while in college during the late 70’s, and many, many people just wanted a stereo that “looked good and sounded loud.” For the majority, a system that friends and acquaintances admire for its looks, won over a less dramatic, but better sounding system at the same price-point.
I recently returned from a few weeks without my 2-channel system. I fired it up this morning and realized how much I missed the sweet sound. For me, my satisfaction and my investment is in the content, and the quality. Both components made satisfying this mornings “Chet Baker in Tokyo” hearing experience. For younger folks, it appears they are just as satisfied to dial up and hear “Chet Baker in Tokyo” on their earbuds and phone, ideal sound quality is simply less important.