Actually, my post above over-simplifies the question. Better sonic quality in either recording, playback, or both, can make more audible two instruments, or two voices, playing or singing notes that are close but different that lesser recordings or reproducing equipment can obscure. That can have an effect on both the emotional and intellectual connection with the music.
Here's an example from a friend of mine who had no interest in hi-fi, but was a rabid music lover: His "stereo" was one of those all-in-one units with a "flip-down" turntable (older guys will know what I'm talking about ;-). The speakers folded together to make the unit portable, and when swung out were only a foot or so apart. Because of that, he never heard that there were two organs playing that riff in Elton John's "Bennie & The Jets", not one organ playing all the notes heard. The two organ parts, one in each stereo channel, were playing "question and answer" parts, a musical construct. Hearing the two parts separately changed their musical meaning, effecting both his emotional and intellectual response to the music.
J.S. Bach's Concerto For 4 Harpsichords And Orchestra is incredibly dense with notes from the harpsichords (and those of the orchestra), and the better the recording and reproduction, the more clearly can the notes played by each harpsichord be heard as separate musical lines, essential to appreciating the music. Again, that is of both emotional and intellectual benefit.
The better the recording and reproduction, the more audible will be the difference in timbre between two females singing close harmonies (I'm thinking of Iris Dement and Emmylou Harris in a recording of them I have), the beauty in the music obscured by insufficiently high recording and/or reproduction quality.
Plus, high quality sound is just more fun than lo-fi!