Where does "MidFi" differ from "HiFi" or "LOFI"?

the paradigm pw600 are on sale $600 a pair,sound like much,much more than a $2000 system

@secretguy  +1

and as Andrew Robinson loves to say, and it's again worth heeding him: 

"The only person who has to like the sound of your system is you."

MidFi is almost a derogatory term relative to HiFi being an elitist term. There’s obviously never going to be a consensus on a definition.

I don’t think price should be the primary factor. Is budget minded gear automatically excluded from being HiFi? Can too many features exclude a product from being HiFi?

My system is absolutely HiFi if judged by any normal person, but is nowhere near the upper echelons within the HiFi community.

Examples:

I think my Pathos Classic One Mkiii qualifies as HiFi. It is a basic integrated amplifier with separate preamp and power amps within a single chassis.

I think my Denafrips Ares II DAC may be borderline MidFi because of its price point, but is only a DAC and does not include extras like headphone amplifiers and such.

I think my Focal 836v speakers may be borderline MidFi because they are not hand made. They were the top model in the “production line” products.

At the risk of offending some, maybe HiFi starts when you start to pay attention to things like cables because they make a meaningful difference.
 

Andrew Robinson review soundbars. He does it really well though, but still....

@mceljo i am very confused about what you wrote

"I don’t think price should be the primary factor" and then:

"may be borderline MidFi because of its price point"

so which one is it?

"may be borderline MidFi because they are not hand made"

how on Earth is HANDMADE a requirement?