It's too bad that a good home hi fi set up can & often does sound better than many live rock concerts. Small venues (less than about 400) can still sound really good but the larger venues rarely do; very hard, upper midrange peaky, boomy loose bass & shrill highs. This is the worst example of what the solid state / horn combo can do if poorly done.
IMO, here's the reason & when I was in pro sound reinforcement, this wasn't the case. The use almost universal use now of arrays from just maybe 6 speakers to upwards of 20 powered by high powered, well built, very reliable but sound crappy class D amps. The theory of the array is to try to create the same sound balance for every seat in an arena w/ minimal "sweet spots". The benefits of the pro class D amps are obvious but sacrifice a lot. Almost Every instrument in a band is now run through this stupidly loud, hard as hell sound system & the beautiful magic of stacked Marshalls or Fender tube powered amps is lost.
I saw the Grateful Dead many times in the 70's, never w/ their short lived, giant "wall of sound" system ,but w/ a very good one that included about 30 Macintosh 2300 amps, & piles of Altec & JBL speakers. The sound was truly dynamic, meaning loud only when it was supposed to be & not continually, crisp, clean & beautiful. It was the same w/ many great shows I saw at Radio City Music Hall in NYC back then w/ many great bands. If you had a good seat, fantastic sound & if not it was ok. Today, its pretty bad in any seat but arenas are still filled so no one seems to care.
I guess the sound today of rock concerts is on par w/ the music itself...... loud, bland, boring & bordering on unlistenable.