For LPs, R2R and CDs, I have not used tone controls or loudness adjustments for 40+ years.
However, my 2 TVs use Yamaha CR620 receivers, with speakers which are high end but not optimally positioned. I use the loudness control judiciously to boost the warmth/balance out the beryllium tweeters.
Otherwise, my main listening room uses hallographs and correctly positioned speakers to obviate the need for tone controls. A poorly mastered recording is not altered but with 35,000+ LPs, R2R and CDs, most are still musically enjoyable despite their deficiencies.
I do use either a parametric equalizer and/or a Marantz 7c for my 78 rpm records. My 7,000 78s have no standardized equalization (especially acoustic recordings) that require adjustment.