There are certainly areas where significant improvements have been made over time. Anything in the digital realm, streaming, music storage etc.
Way back when I purchased (on sale) a Krell KST100 amplifier. It anchored many changes (upgrades attempted and upgrades achieved) upstream. After twenty plus years, some issues became apparent and I was faced with the dilemma of purchasing a new amp or servicing my Krell.
Looking at the market place, reading reviews and posts on websites (this one mainly) I called Krell. Had a brief discussion with a tech there who went over the ins and outs of bringing my KST to spec and resolving any problems they found.
The current marketplace for amplifiers that would deliver the the same or better attributes of the Krell would require quite a bit of money. At least what I paid for the Krell and quite a bit more than the cost of “refurbishing” it.
Luckily, especially given the original packaging was long gone, Krell is located less than an hour’s drive from me. I drove the amp up to Connecticut, the tech met me outside with a wheeled cart! The amp weighs around 45 pounds with sharp heat dissipation fins.
For around $1500 and a few weeks I had a like “new” 100 watt (measures 130) clean across the spectrum, the amp handles just about any speakers well, superb bass control (good slam factor).
The service at Krell is superb. The techs are enthusiastic helpful and a pleasure to deal with. I got good reasonable advice.
I think the main advances in power amplifiers these days are size related with class D. Integration with pre amps and/or all sort of one box combinations. Was the Krell the last word in amplification? No. Even when new Krell made “bigger better” amps. The KST was actually their “dip” into the more “affordable” domaine…we are talking some $2750 back twenty five years ago! In today’s money?
In the end, considering price, the real question is personal. I am not sure moving over makes much sense. Moving up yes. So if you have a piece of gear you are happy with change for change’s sake doesn’t make sense to me especially in Audio.
The most important factor in a good audio system are the synergies among amplifier, speakers and room.
Finally.
We audiophiles tend to get buried in the technology weeds. The key numbers/measurements for amplifiers are those that indicate how they will drive your speakers.(power, current, impedance etc etc etc).
The technology or design philosophy that achieves those numbers is at best secondary at worst a red herring. And really what counts is how it all sounds to you.