My system, being what it is, is very adequately served by inexpensive cables. A big issue for me has been bad connections between components and cables. As long as the contacts are all good I get the sound I want for cheap! My latest upgrade was changing my HDMI cables out to a couple grades above basic. I was getting frequent signal dropouts where the sound would just turn off and the picture would go black for a few seconds at a time. I assume that was also from intermittent contacts. If I just slightly wiggled and HDMI cable it could cause a dropout. The new HDMI cables seem to have solved the issue.
As for hearing differences with cables, I think some equipment combinations are particularly sensitive to cable parameters. That sort of "revealing" characteristic is a nuisance to me, basically a design defect, although a defect for one can be a feature for another. I don’t see any evidence that basic, serviceable inexpensive cables are the cause of any meaningful destruction of information in the audible range. They’re not doing anything wrong. They’re just failing to act as a remedy.