For a lot of folks listening to every component they wish to consider is simply not an option. Particularly not in the room and with other components they wish to test. That's kind of why reviews and reviewers exist. And reviews are certainly popular, right?
Have you ever really stepped back and read many audio reviews? They all sound the same. They read more like reviews of high end wines than technical equipment.
I don't think anyone here is suggesting that tests, studies, or measurbating are THE prime criteria for deciding what is worth the money and what isn't.
The problem is that there is so very little actual data to use in order to narrow down your choices. Most of what we consume is either the opinions of paid reviewers with obvious conflicts of interest or the views of internet forum members. I'm not knocking any of that. I'm just saying why not have it all?
In the photography world where cameras and lenses often exceed $30K it would be perfectly unheard of for reviews and opinions to come with absolutely zero objective data. Why is it different in the audiophile world?
Further, in the photography world it is not uncommon for a Sigma lens to outperform a Nikon or even a Zeiss at half the price. I suspect the audiophile world is the same......but who would know?
My guess is that a lot of the stuff wouldn't live up to the hype. That might be totally off base but there isn't any good data to suggest otherwise. Just opinion.