Well, I'm not sure that "audiophiles are generally no fools." Do you have any idea how hard it is to sell something though really really good is not listed among Stereophile's recommended components. Or how many sales are made immediately upon a rave review to people who have never heard what they're buying? Let's, please, not get into the prices paid for designer cables (I'm NOT a wires is wires troll, but know that the margins are really big).
Red, you're probably right about the salary. They do get good salaries, but the income from their reviews or editing or whatever helps.