So getting back to the spirit of the original question, what has changed? Well the short answer is "we have." Getting back to my previous post, new products only take-off when there is a convergence of new technology with a receptive public. That receptivity is most dramatic when a product taps into the prevailing mindset of consumers. We all know of the stories of good technologies that failed to find a market because they were out of synch with the mood of market in one way or another. So while the manufacturers can offer a supply side push with an array of new products, they end up pushing on a rope if it isn't striking a resonating chord with the customer.
In the 60's, Marshall McCluhan wrote "The medium is the message." I would update that in 2001 by saying "the technology is the message." Getting back to my post of yesterday, the receptive chord that has been struck with today's consumer is the technology of home theatre delivering the desired heightened experience. The experience becomes more important than the programing, and as a result, the technology (or equipment) becomes the "message."
A previous poster raised the valid point that pop culture has always been banal, and the mass market will always be bigger, which is true. I was reminded of this watching Ken Burn's Jazz that Ella Fitzgerald's first big hit was "A Tisket A Tasket"- not much better than the Spice Girls when you get right down to it. But I think one thing that is different now in various aspects of society is the switch in influence from a "top down" to "bottom up" paradigm.
This really started in the 60's. Prior to that trends in fashion or most anything else filtered down from the top- rich people, jet setters etc. But since the 60's the dominante influences in society have been "bottom up." Now you could say, "Well wasn't jazz the classic bottom up influence?" And I would say absolutely it was, but they were all wearing suits and ties while they were playing it- just like the upperclass people they were playing for. When the Beatles quit wearing their short jacketed suits in 1964 that was about the last vestige of any pop culture personalities still influenced by the top down paradigm. And not insignificantly, they then proceeded to blow it into oblivion.
So what's the point of all this? In the bottom-up paradigm we now live in, the influence of the banal pop culture is greater than ever before. When combined with greater disposable income than every before it is little wonder that the taste of the common man now dominates the Board Room when product decisions are being made. So it's not our imagination that there has been a lowering of the bar in a lot of areas, music and audio being on top of the list of casualties. The "mass market" no longer aspires to the same things as the high end market in many areas, and audio is the classic example.