Cheap/expensive or expensive/cheap?

OP - everyone's response likely has some merit, hence your question isn't going to result in a definitive answer. Like Mr. Schroeder says above, reframe the question more narrowly/precisely and you will get more useful answers.

My experience has been variable, but in my system/room, I come down on the side of spending more on gear rather than cables when your per unit cost is under 5K. My system is 25K total, about 10% of that is in cables and power conditioner. That 10% has become like a guideline for me (and that includes tweaks like isolation pads)... but as mentioned, there are more experienced industry folk in the more rarefied end of the hifi universe who might say 25% or more should be allocated to cables/conditioner/tweaks. 

Auxinput-a 10k system isn’t reaching the point of diminishing returns? Are you talking about $10k worth of cables? I hope so because a $10k system can still be classified as a starter system or maybe getting into The midfi range, depending on what components you are talking about. A good dac with a good power cable and ic’s alone are $10k or higher. A good turntable/arm/cartridge/phono preamp with cables start around $10k, on and on.

I didn't mean to annoy anyone with this question. Seems like there's always one person who gets offended or annoyed with something on these forums. I realize the question is very broad and general but I didn't want to get into the minutiae of specific cables etc. I basically had the same system for almost 25 years before I decided to update it. With my older system (Denon, Nakamichi, Canton, B/O), I never upgraded any cables except for the speaker cables (Monster) because I didn't know any better and there weren't any high end hifi store where I live. Once I decided to update my system a couple of years ago, I have tried to research more and experiment with cables, cords, etc. and I have noticed the improvements. I was just trying to understand and learn more from you all who have waaayyyy more experience than me. My basic question was can a lower priced system with good quality accessories potentially sound better than a higher priced system with just the stock cords/ICs. Thanks.

If you put a mink coat on a pig....you still have a pig.

If you put a pig skin coat on Marilyn Monroe....you still have a beautiful woman.

I recently added Audioengine B1 Bluetooth receiver to my system.  It uses the latest Bluetooth codec and by far bested the previous  six buck BT dongle that it replaced.  I use BT primarily for podcasts that I start listening to on my drive home and finish after arriving, and occasionally with Qobuz if I want to sample something and don’t want to go the extra steps of using my Bryston streamer.
  At first I tried my Nordost  cables that cost more than the Audioengine , then the RCA cables that came with the Audioengine.
I couldn’t hear a difference.  Bluetooth is Bluetooth, even when done as well as possible on a revealing system.  The source is still the thing.