Equalizer in a Hi Fi system


Just curious to hear everyone’s opinions on using an equalizer in a high end hi fi system. Was at work tonight and killing time and came across a Schitt Loki max $1500 Equalizer with some very good reviews. What are some of the pros / Benefits and cons in using one. Just curious. BTW. I’m talking about a top of the line. Hi end equalizer. Mostly to calm some high frequencies and some bad recordings. 

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When I purchased my system, I refused to be without EQ, specifically once I auditioned the Wavelet with my Legacy Focus XDs. I could not imagine not have control over poorly mixed recordings, being able to adjust all EQ, room correction, volume and subwoofer setting from my iPad anywhere in the house is absolutely the best feature of this system.