Are Audiophiles "Simply Guessing?"

I know I would be guessing. 16 bit 44 khz is good enough for me.

No listing of headphones, amp, or associated cabling so we don’t know the likely resolution of the system.
Listening to three different formats of music in a short term test leads the participants to key on the differences between selections.
Long term listening in a relaxing situation would be better to make an absolute choice as to which file sounds the most realistic.
Great ears, perfect pitch, and a music degree doesn’t mean she knows what to listen for.
Hi Enders are generally looking for soundstage, imaging, instrumental separation, air, slam, among others that is likely not important to someone with a music education who is listening for a completely different set of values.
 I could be wrong but that is my initial reaction.  So be it.

As I said, this is something I came upon. I find his video discussion interesting, but flawed. 

The comment section below Beato's YouTube Video is interesting and has some valuable contributions.

It does (for me) raise the question as to where each of our personal limits are and whether our limits should be driving our equipment and system choices?