I'm 64...Been playing about with audio since my late teens. Have owned some semi-serious equipment in the past, but never 'caught the bug' or had the disposable income to own Serious Stuff. Did develop ears that could discern between mere hype and local acoustics over significance, IMHO. Did learn to notice that 'HO' had a lot to do with the previous claims...again, IMHO. When computers edged into audio, started playing about with that; it wasn't hard to see that the future went 'there' ultimately....
Current equipment isn't 'pedigree', nor the environment it exists in...half audio, half digital, cables like pasta to step over. I amuse myself with my predilection of making a DIY Walsh speaker along the lines of the German Physiks units. At 10% of the price of one, I make 4. They're not perfect, but I enjoy listening to them more than the other speakers I own...
For me, That gets back to the basic and founding essence of this 'hobby', this 'pursuit'. The endeavour for enjoyment and entertainment, what engrosses you and motivates. One can spend more..'bang for the buck' is still a relative issue, and is relative to the individual's desires.
The market has never been more broad, as is the price of admission to one's chosen approach. And that approach, as always, is driven by what one wants and what one is prepared to pay for it. Serious Audio suffers the same fate as Serious Autos, or Serious Real Estate. If you can afford it, you will buy it. If not, you abstain, stand pat, or get out or downsize.
Tastes change too. If one's Iwhatever and ear buds float your boat, that's where it'll stop and stay. For others, no, and the spectrum of the current market plays to every conceivable niche one can consider...
Twas always thus. It's just changing, as it always has, and always will.
C'mon y'all...quit fretting. There's far more serious things going on than this...
Case in point: The bees are disappearing. Rapidly. Stop, think. No bees, no pollination. Audio issues meaningless when you don't eat.
There are other nightmares pending, and presidents past, present, or future can't and don't fix these things. Their 'job' is to make a choice when an issue comes to a head, on their desk, for us (ideally). They don't effect the price of gas. They don't create jobs. They can't make the stock market (or any other market) behave and play nice for our benefit.
They can behave badly and make us look astoundingly stupid.
Vote like you life depends upon it.
It Does.