There's nothing wrong with horns that a little effort can't fix.
Altec A-7 VOTTs can be made to sound good, same with Altec Valencias, JBL L300s etc., but they do need work, better crossovers, bracing, damping etc..
Vintage horn systems with folded bass horns, like Klipschorns, Vitavox and EV Klipschorns and JBL Hartsfields, can sound very very good especially in big rooms.
My old Hartsfields even sounded great in my very small front room. Powered by a 2w/ch set45 amp they had excellent bass... but they were not not the last word as far as audiophile stuff, detail, imaging etc..
I use dipole bass speakers in my big-room horn system - four 15" woofers in open back boxes go deeper and sound more realistic than folded horns like Hartsfields do in the same room.
Throw in field coil drivers on conical mid horns and my horn system sounds good. Really good. Like super high end studio monitors, but better. I wouldn't trade my DIY horns for TOTL Magicos.
(I would definitely trade my system for Magico's mega horn system. Not that they would fit in my house.)