I'll share a few observations from recent experience. There is a point of diminishing returns; it is subjective, and of course it does vary with pocketbook. For me, I hit that wall when I realized I'd spent too much buying equipment, amp and speakers, too big for my room. I had way more wattage, bass extension etc. than I really wanted for the way I actually enjoy music, as opposed to the way I might show off new gear.
To get that gear to open up all the music, it was uncomfortably loud; I felt beat-up by the pressure wave.
After downsizing, I had a system that cost far less and brought me more musical pleasure in the near-field at moderate volume. For me that came down to some of those 'why spend more?' components; mini-monitors around $1600 USd, and a tasty integrated at about $1200.
To get that gear to open up all the music, it was uncomfortably loud; I felt beat-up by the pressure wave.
After downsizing, I had a system that cost far less and brought me more musical pleasure in the near-field at moderate volume. For me that came down to some of those 'why spend more?' components; mini-monitors around $1600 USd, and a tasty integrated at about $1200.