I think, there is no definitive answer.
On one side, the business lives from the impression that the latest design is better than the model before.
On the other side, you buy/bought brain. With some luck you own a unit done right. From design, layout or parts.
Even when you go to a more modern unit from the same designer, there is no guarantee that it will sound better. Different? Yes. But better?
After all my years with High End I think, most have done something outstanding on pure luck. They made something and it was a 10 out of 10.
The majority of Audiophiles want to invest money after some time. They want to change. And to justify the investment or to be King somewhere, they tell and think, yes, it is better than my former unit. And when it is more expensive, it has to be better. That’s the rule of the High End game.
Audiophiles, who go for a cheaper unit because it is better and talk about that, are rare.
But probably they know it better what is going on.
When i go to High End Shows the last 15 years, my impression was, 80% is for - expensive - ear cancer, 20% is good.
When everything will become better, this percentage should vary. But it doesn’t.