would anyone in high end audio actually trust CR?
Actually, I'd trust it more than I'd trust any high-end magazine. CR compares products directly, side-by-side, and discusses both strengths and weaknesses. High-end audio reviews, by contrast, invariably read like advertising copy. CR's reader surveys produce good data on rate-of-repair records.
Granted, CR rates strictly mass-market gear, not the sort of things audiophiles would buy for their primary systems. But if I were looking for a cheap minisystem for a basement workshop or something, I'd definitely see what CR had to say about the category. Whereas if I were looking for a new preamp, I'd ignore TAS completely.