HiFi vs MidFi


I’m a relative noob to the audiophile scene, having just invested in an integrated amp and upscale (for me) speakers.  From time to time, I hear the term “MidFi” for some components.  Is there an objective or just largely accepted definition for this term?  I’d be curious to hear feedback on what constitutes HiFi vs. MidFi across various components.  
bigtex22
Mindset of the both buyer and manufacturer are at the heart of the matter. 

Hifi usually has most of the energy focused on the best sound quality at the price point at the expense of fancy looks and bells & whistle features. Marketing by small companies often started in garages/basements is often an afterthought or minimal. Customers who identify as early adopters are attracted, and yes some go too far pushing snobbery and "insider knowledge" vibes that alienate others who are "hifi-curious".

Big Midfi brands marketing budgets contribute to their cost. Casual recognition of those brands by non-enthusiasts and big box distribution helps close the deal with the low-engagement customer. Manufs. compensate partially with large scale savings, but design decisions driven by committee, often result in sonic tradeoffs.   

IMHO, price contributes but isn't the key. Their are tons of lower cost items designed and sold with noble sonic goals and achievement; DIY and kits included! At the more limited end of the financial spectrum themes of "punching above their weight class" and "diminishing returns" are common and relevant. 

Years ago, I sold Sony, Bose and Onkyo at retail to pay for college. Many low engagement customers were happy. Then I went home and listened to music on my ugly green NAD amp and my tiny Mission monitors with grills removed and blu-tacked to cinderblock stands...and I was happy. 
Cheers,

Spencer
Post removed 
Allow me make it simple. Same knuckle dragging liberal that try to create all division in family and steal all money make these terms. The devil has these people and my wish they wake up and see humanity trying to live higher aspiration not create so much division. Enjoy music the..............yea that made it real simple?
Spencer - right on, still have the NAD 3020A cranking away into Dynaco A-25 in the garage…..

Midfi but oh so musical….. A pirate Dylan cassette in the Nakamichi sets everything in motion…..
What does "Knuckle Dragging Liberal" have to do with this thread? Is this a political rant or a discussion on what budget comprises different levels of audio quality? I have a Mid Fi budget and make the most of it. If I had the disposable income for better equipment, I would buy it. What's wrong with the two of you Reactionary Elitists? Can't wait for the reaction to that labeling.