Given enough tools, I'm pretty sure I could make a bad recording at least sound acceptable. But I still agree with what you are saying.
Oh for sure. Just as radio stations do with compression & graphic equalisation.
In my experience the “better” the hifi (particularly speakers) they could indeed make good recordings sound better than I ever heard, but bad recordings? They were laid bare & I found I didn’t listen to many of my old favourites anymore.
I was very briefly sucked in by hifi dealers who would switch my music for some whiney woman & it sounded great, but not music I ever want to listen to.
As we know, a lot of guys get obsessed with their boxes.