The basic principle of classification still defines the efficiency, cost, and form factor of a power amplifier essentially. How the audio industry implements technology on top of and around this principle to make them perform well sonically in measurements and actual listening experience is still a ongoing progress, not a cliche understatement you were making at all. See below how the forthcoming Fosi V3 Mono (priced at $280/pair) bridges the gap nicely with the noise/distortion level of the state-of-the-art Benchmark AHB2 that costs $3,500.
(from Amirm @ASR, April 2024)
Thank you for pointing me to ASR, where I found these charts that Amirm nicely made. I see that at the maximum power rating of 32 volts SMPS, the 48 volts SMPS does not have a few dB noise advantage. And the 48 volts block gives more headroom/current to serve the peak loads as well when called for. However, at my usual listening level, I don't crank the volume knob to acquire that much power, and I am craving for more clean power from LPS. Also, the op-amp rolling will potentially render sonic improvement just like tube rolling on the tube amp. We will see.