The other day I was wondering "what are the properties of an audio system that make it 'High End'".
I don't think it is a matter of price, though there is some floor. For example an Eversolo DMP A8 and a carefully chosen pair of Dynaudio Active speakers probably gives one some of the qualities that we value for $5k.
For me the to critical qualities are timbre/tonality - does it sound right, resolution - can you hear into the performance and can you hear the the music in the very quiet passages. Do you hear the "performance", the shape of the notes, the harmonics, the decays, the subtle changes in loudness?
A high end system will also have a clear soundstage, a clear sense of where the instruments & performers are.
I have two systems, the 2nd system cost perhaps 8k, and makes wonderful music, the primary system makes the music more complete, and the sense of being at the performance much greater - albeit at over 10x the cost.
I have a very musical friend who will have nothing to do with "high end", he listens to his "hi-fi" all the time, but I do not find it a satisfying experience, there is no sense of the performance.