Has the cost of HiFi gotten a bit too much?
A "bit too much" for what? The USA and most other countries represented on this site practice free enterprise. In the absence of monopolies and other nefarious/illegal practices, merchants set their pricing based on what the market will bear and based on their desired business model. Within legal boundaries, there is no rule that the pricing of home hi-fi equipment must stay below the level of inflation. Buyers decide what they like and vote with their wallets. Businesses thrive or die based on the outcome. What would you change?
As someone else pointed out, with luxury items, not everyone can afford everything. That fact really has not changed over time, but maybe the expectation has. At least most people have the opportunity to change their circumstance, and while socio-economic factors and luck can influence the outcome, the combination of hard work, education, and living within your means usually go a long way toward improving one's condition.