Seem to me that if a product measure worse in a parameter than another its objectively worse based on that parameter.
But as I suggested before if one posits a given level of distortion is inaudible
reducing that level of distortion a hundredfold cannot affect the audible experience
The measurement it important from the marketing and quality control standpoint of course.
To suggest a piece that measures worse cant sound good isnt sustainable after a minimum standard is met,
If you cd establish level of distortion that is audible that might be helpful but wdnt necessarily mean the piece wd not sound good
You wd need to be able to prove that an audible level of distortion was detectable to a large number of folk who wd independently agree it sounded bad to make the point
And then you are back to listening test vs measurement no?