HiFi vs MidFi

I consider my room Mid-Fi and you wouldn't insult me by saying that.
I was able to piece together a listening room for ~$12k (PL Evo 400, Rega P6, Dynaudio Evoke 50s, Meridan DAC, Cambridge Audio Duo phono etc.). 
It mesmerized me when I dropped the needle (or clicked the IPad) the first time.  Captured me, my kids, and my friends that visit.  Some people would consider this ludicrous money to spend on a "stereo".  Here its considered entry level.
Do I aspire to Hi-Fi?  Absolutely.  Do I think there is some snake oil/marketing in it ABSOLUTELY (I have been a part of that).
To me its more than about sound.  I love this hobby, exploring the science and the art.
Pretty comfortable with the size of my d...drivers.

Price has very little to do with High Fidelity. Take the $3K Benchmark AHB2 that amplies the incoming signal impeccably and the recent $45K D'Agostino that limps along like an Edsel and there's your high fidelity vs mid fidelity. 

To me:
Hi Fi is a very relative term. It has been co-opted to mean Hi-End. But it simply means a system that puts a great priority on sound reproduction. That’s all.

Like Hi-Performance (Hi-Po) in cars, it can mean a Mustang, a Miata or a Miura (Lamborghini).

Hi-Fi covers a lot of ground. Anything that sounds pretty good is Hi-Fi. There can be budget components in a Hi-Fi system. It just needs to perform better than an average audio system.

Once you buy separate components, you are in Hi-Fi territory. An outboard phono preamp gets you there too.

Hi-End is another animal. Some people don’t consider McIntosh in the Hi-End anymore. It is a premium luxury brand for sure.

Just like Mercedes is generally considered a premium luxury brand but not really Hi-End.

Bugatti is certainly hi-end. Certain Mercedes CAN be. Certain McIntosh CAN be.

Hi-End sound at a mid-fi price is possible.
Hi-Fi sound at a Mid-Fi price is also possible.

If you are on this site, you probably have a Hi-Fi system.

I think Hi-End is at the higher end of the premium ladder.

I think high end is different than hi fi.  Hi end is simply expensive, maybe better sonically than lower priced models but not necessarily.  Yes I have a Carver 350, high end, high sonically, But my vintage system Soundcraftsmen Pro Power4 and MA 5002 both totally refurbed along with Soundcraftmen dx4000 pre amp, totally refurbed, with Epicure 3.0 truncated pyramids and a highly modded AR es1 (no pops, crackles or static) sound as good to me as many $5000-$10000 systems.  I'd be lucky to get $3000 for the system.  Yet to me it is High Fi, High sonic but not high end.  I play it almost as much as my Carvers with Amazing silvers.  As the Bobfather says "just enjoy the music"

The DX4000 has an absolutely outstanding phono pre amp by the way