HiFi vs MidFi

I’m a relative noob to the audiophile scene, having just invested in an integrated amp and upscale (for me) speakers.  From time to time, I hear the term “MidFi” for some components.  Is there an objective or just largely accepted definition for this term?  I’d be curious to hear feedback on what constitutes HiFi vs. MidFi across various components.  

could be Mighty Damnnnn Fine, as great sound can be achieved without spending a fortune.
Brands most people have heard of at prices most people can afford sold in places you can walk into and buy. 
The answer as to what constitutes Mid-Fi versus Hi-Fi is predicated upon the habitus of the audiophile. The average person thinks that lower end rigs are higher than they are. The person with a tremendous amount of system building experience knows far better the true spectrum of performance. 

Calling the designations Mid-Fi or Hi-Fi states of mind/attitude is, imo, unproductive in making a clear judgment. There are clear distinctions in performance; if you don't agree, feel free to revert to your computer monitor's built in speakers. 

As someone who was a budget audiophile for many years, but in the past 14 was reviewed and built hundreds of rigs from approx. $10-100K, my range would be about like this:

$2-3K MSRP  Mid-Fi
$5-10K MSRP  lower end Hi-Fi
$10-40K MSRP  midlle HiFi
$40K+ MSRP  various shadings of upper end HiFi

I am not interested in arguing over or debating my assessment.  :)

I am not interested in arguing over or debating my assessment. :)

Like a good sellers who dont want his price scale contested in any way....


There is no scale high end price for guidance in acoustic experience....

Differences between 2 relatively good but different amplifier, even between speakers, are most of the times in most of the cases, save for extreme difference in cost and engineering in some particular case, less important generally than the change from an acoustically uncontrolled room to a controlled room designed for a specific type of speakers and system...

If you dont know that, you only are a seller....Anyway not an acoustician....

I apologize for being "rude".... But it is an audio thread and truth matter more than price scale association with sellers tags practice....