What is a "reference" system?

Viridian:

Two takes on T-Bird...

https://www.youtube.com/watch?v=0xY7mBQrzXU&t=1s

https://www.google.com/search?client=safari&rls=en&q=James+Mason+says%3A+Thunderbird+Wine+Has+An&ie=UTF-8&oe=UTF-8#fpstate=ive&vld=cid:4aa12539,vid:10oKb4xkwNI,st:0

DeKay

It is an indirect or a fancy way of saying individual has assembled one or more other audio systems in the house, but this specific one is the "reference' because it is sounds "better" than other system(s). This "reference" system in all likelihood has a dedicated listening space/room whereas other systems may be in the office, bedroom, work area/garage, home theater setup, etc.

I have two systems, one dedicated for audio only and the other for both audio and video. I don't call any one of my setups reference because that's all I got (LOL).

IMO, a “reference” system is just the one you have that you compare any new component, cable, footer, etc to.  If you have multiple systems, it’ll typically be the one you’ve put the most time into getting it to sound the best to you.  

Each of us has a reference system as it has zero to do with price of the components, their newness, or anything of the like.

Dekay, thanks for that! Well, if it’s good enough for James Mason, it’s good enough for me.

What kills me is that I have visited the homes of some of the old codgers...err members on this board, and you know what? They have all of this scratch but are buying old grape juice. Like real old! I’m talkin’ decades here. Well none of that for me. I want fresh hooch, absolutely fresh, like bottled last week. Then again, you see some of their hifi rigs and you know why they can’t afford fresh wine.

It all depends I what you are “referring to”. 
so you live high-volume outdoor venues, intimate jazz clubs, large auditoriums. 
can your system reproduce this in your living/music room?

if so, then you can say, “I have a reference system”. 😉