Loudness - Why has the industry stopped producing amplifiers with this feature any longer?


I listen to music at all times of the day and night (solid sleep eludes me the older I get).  My favorite times are when the family is gone and I can select the listening level, mostly moderate to higher volumes.  But the simply fact is I find myself listen at lower levels much more often then my preferred listening mode.

Piggybacking on a discussion regarding low level listening here on Audiogon, I'm posing the question:  Why has the majority of industry stopped producing amplifiers with this feature any longer?

I look forward to your input
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My recollection is that the loudness button simply added an enhanced bass response.  Is my 20 to 30 year old recollection in error?
I have no loudness or tone controls. I’m sure others have explained better than I can why the shortest distance from A to B is an engineers goal. 

If you MUST have a tone variability option, tone controls provide more flexibility. Loudness was a cheap way to compensate for poor circuitry and parts in cheap components. 

I have one in my Dyna PASS. That was a long time ago. Dyna was good in their day. 
I used to have an ARC SP3a that had something called a "Contour" control. Basically, it was a tuneable "loudness" control. I don't recall seeing it on any subsequent models. If the tone controls were activated you could control the curve to add more bottom end for low listening levels. I never used it all that much. Being as this was mumblety years ago, I seldom listened at low levels anyways. But I could see it as a handy tool for apartment/condo dwellers or for background level music. 
Cheers... 
It fell out of favor, when people  were told set there tone control to  neutral and loudness switch off.