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.  
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I should have let Diana's sing on the 1st tract, 
The W4 opened up the magic of that song. 
Just mind blowing how sensuous Diana 's voice.

+ I am blabbing too much in that vid..
Here try this test
Miles davis comes in at 1:41

https://www.youtube.com/watch?v=xcjYiZztHgM&t=1s
Are you saying
Scan speak is superior to Seas..
I am saying that the Sonus Faber sounds better than anything you have shown. Nothing to do with the name, nothing to do with the manufacturer of the drivers. It is about how it sounds. It sounds coherent, yours doesn't, at least to me. Period. I could care less who made the drivers or designed the speaker. It is miles ahead of what I hear from yours. IMO. You like shouty, splashy sound. You think that is high fidelity. I don't agree. It is that simple. 
simply put, mid-fi is canned music, obvious from a distance. hifi is being in the intimate [virtual] presence of real live musicians as through through the sheerest of veils. the former is grainy and generic and tiring, the latter has the utmost of natural ease and is addictive. 
the Sonus Faber sounds better

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Oh yeah, i see what you are saying
Sonus Faber has a big name attached **they have to must sound better* than my Frankensteins.. 
ok got it.
wait til The Speaker Project is complete.
Gonna run a  WBer 3 way with Beryllium neo tweeter.
Lets see what Sonus Faber can do.
The Guarneri has the super neo magnet. 
Thats all it has going for  it.
Ck out the price, ck out the web page.
I never went in for commercial. My Thors came as a kit.
Trust me the Guarneri's ain;t going to outshoot a  Seas W18EX001 /Millennium. 
That Guarneri is so over priced. 

A guy in a   Armani suit who has no sensibility to know what is high fidelity.

https://www.sonusfaber.com/en/products/guarneri-tradition/

Guarneri's made Sterophiles front page. 
There you go, ck out price on last page
My Frankensteins will not ever make Sterophile.
So Sonus faber MUST BE superior.
A speaker is ONLY great IF it makes Sterophile's  front page NEWS.
Got it.
Not going to stop my The Speaker Project from completion. 
https://www.stereophile.com/content/sonus-faber-guarneri-tradition-loudspeaker