« What does noise floor modulation sound like?
Noise floor modulation is extremely important subjectively - you perceive the slightest amount as a brightness or hardness to the sound. When it gets bad, you hear glare or grain in the treble.
Less noise floor modulation, smoother sound quality. The curious thing about this is that the brain is very sensitive to it, so you can easily hear it. Problem is that many listeners hear the brightness as more detail resolution, and so think it sounds better - but that’s another story.»