Story 1) I bought a VCR in 1982 for about $800. By the late 1980’s VCRs performed much better and were much cheaper. I saw a production video in the early 1990s of the making of VCRs and was surprised to see that the process was completely automated. Just a few people here and there monitoring the process and checking parts. VCR’s rose and fell in over about a 20 year period. Product development occurred at a furious pace through the 1980s. And then came the DVD. I don’t think too many people lamented the demise the VCR once DVD and blu-ray took over. VCRs really never had a chance to develop an esoteric market. (Tongue in cheek comment). But the VCR is a good example of how the product both improved and became more affordable. Stereo gear did the same starting in the 1960s with the integration of the transistor.
Story 2) I stumbled into a high end watch store one time in the late 1990s in Stuttgart, Germany. I had on my Omega Seamaster Professional and so I felt like I was a watch connoisseur of sorts. I got schooled that day. Every watch in this store was handmade. I don’t remember prices but I remember they were beyond the cost of a good car and more than most houses. The storekeeper looked at my watch with disdain and commented that it was mass produced. Europeans love their watches and you’d be amazed if you were aware of value of the time pieces many people have on their wrists in Europe.
My point is, VCR’s were a new technology at the time and product development was moving at a rapid pace until the VHS tape was replaced by a better medium in terms of performance and convenience. Automation and cost reduction were key to the increasing popularity and growth of the VCR. Mechanical watches, on the other hand are a mature technology having been around since the late 19th century- became mass produced for common availability and eventually replaced by the quartz movement but still persists as a collectable high end hobby. No one seems to debate the ridiculous prices of mechanical watches that can nowhere match the accuracy of even the cheapest quartz watch- except for my friends and family. Hifi fits into the latter category. For the most part speakers, amps, turntables and even DACs these days are mature technology. They can be had for anywhere from a few dollars to hundreds of thousands of dollars. Basically, whatever someone is willing to pay. It’s about art, culture and a personal achievement in building something satisfying. Like a good watch, or even artwork, hifi is a very personal thing.
I notice that some of the recent DACs and amplifiers made in China look very good on the inside. The circuit boards are neat and orderly. They even speak of the thoughtfulness of keeping analog and digital paths separate and other hifi practices. Notice that the components on these circuit boards are packed very tightly. These circuit boards were designed first for automated assembly and low production costs. "Audiophile" sound is secondary. Now take a look at some high end well known respected audiophile brands. The circuit boards are bigger and much less densely populated. This supposedly makes a difference in getting that special, magical sound. In most cases the boards must be populated by hand.
Another good example are tube amps or preamps with point to point wiring. They look like rats nests inside but the argument is that circuit boards can affect the sound. And in some cases these amps sound better than something that looks to be better built and organized on the inside.
Production costs can be significantly higher for products that have much more manual assembly. Is the hand made more expensive device worth the extra cost? That is for each of us to decide. Why let someone else make the decision for us on how we spend our money?