Equalizer in a Hi Fi system

Just curious to hear everyone’s opinions on using an equalizer in a high end hi fi system. Was at work tonight and killing time and came across a Schitt Loki max $1500 Equalizer with some very good reviews. What are some of the pros / Benefits and cons in using one. Just curious. BTW. I’m talking about a top of the line. Hi end equalizer. Mostly to calm some high frequencies and some bad recordings. 

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I'll check it out.  I deleted my system profile several years back after a hack into my Audiogon account with attempted fraud.

@dgarretson Dont understand what u mean. >McIntosh : But where the money went into this design is clear.

@tattooedtrackman Look at the SkyFi video at 49:00 and see what circuitry $3000 buys you, and then look at the Massive Passive video, and look at what $6000 buys you.  There is certainly more than twice as much going on in the Manley unit!

I'm not putting down the MQ112 at all....  I'm actually considering one!  

I got my MassPass used over 10 years ago, for around $2700.  It sounds gorgeous, but you need 2 hands to drive it.  You really want ganged controls for stereo program eq-ing.

@stonyb3165 Proclaiming that a Loki Max is all "ANYONE" needs is a bit presumptuous.  You could have just said "is all I need".  Other people may have different needs, or sense of aesthetics.  The Loki Max would look stupid in @tattooedtrackman beautiful system.  The MQ112 looks perfect!!