You are right about power cords and power conditioners, and i concur with your metaphor about painting red a Camry to pass it for a Ferrari... 😁😊
But when these common sense and common place facts are said and well said by you, there is other alleged "snake oil"devices which cannot be put under the rug and be treated as useless because the owner of the costly price tag of some higher end audio system decide that it is the case...
These are the electrical various possible control over the part of the gear and of the room/house electrical grid but also the mechanical vibrations/resonance controls but also the more important acoustical passive treatment and especially the mechanical acoustical control devices...
These are not ALL snake oil creations ...
This is where a low cost system can exceed in S.Q. or rival not far behind it some costlier one, it is here where your Ferrari metaphor ALONE did not work anymore...
Audio experience does not result DIRECTLY from the gear system coming from the store heaven but audio experience result also from the gear system IN A SPECIFIC acoustically controlled or not controlled room...
That is the limit of this popular Ferrari metaphor....It takes a DESIGNED RACE TRACK for the Ferrari to perform , put a Ferrari in a sahara desert caravan track it will not work well...In my metaphor the acoustic control of the room is the DESIGNED track and specifically for it, where the Ferrari perform... Any system without acoustic control is like a car in the deep sand track of the desert ...It did not work well....
Then all acoustic devices are not snake oil or secondary artefact we add or not to a system, they are fundamental like the designed track for the Ferrari...
In my set of acoustic controls devices i use classical Helmoltz method and devices yes , but also unorthodox devices to help my low cost system to not be so far away from SOME highly costlier one... None of them are snake oil...
Yes my system is NOT high-end at all , but yes my ratio quality/price is very high and my experience is not so far AWAY behind system costing 100 more when these system are put in an uncontrolled room in particular... Thanks to Helmholtz among others...
Acoustic is the key not the price tag....
And all added devices around a system are not ALL snake oil....
Exemple out of acoustic field : tuned mechanical vibration control devices....They are ESSENTIAL....
For me, I have tried different interconnects, speaker cables, power cords, power conditioners. Each has sounded different, for better or worse. So anyone who doesn’t hear any change either has a low fidelity system, or insensitive ears.
We can have opinions about interconnects and speaker cables.
However…
It is exactly opposite wth power cords and power conditioners.
The higher fidelity systems usually have the better power supplies in them and are more immune to what power is coming in. That is part of what makes them higher fidelity, but it also is a sign that they are not cutting corners in one area, and likely also not cutting corners in others.
I would believe that on some lesser quality systems, that these snake oil things might work, but they should work less (If even at all) on systems that are designed right.
We can paint the Camry red, but it only identifies as a Ferrari, it doesn’t actually become one… much the same as a fancy cord does not fix an inadequate power supply design.