I really hesitate to inject general statements into discussions. But, here goes:
I have never heard a system at any price that didn’t benefit from better cables.
Can you use the wrong cable in a given system? Also true.
I was a dealer for 35+ years. This doesn’t make me smarter. But, it did allow me to a have a bigger "toy box" than most. At any one time, I may have had a dozen, or so, various price points of a given cable type from 3, or more, manufacturers in my grasp. I was a dealer who also lived and breathed high performance audio, so experimenting was one of those activities I enjoyed the most. And I did!! (Also was awarded a speaker patent).
Swapping components, cables, and messing around with anything (yes ANYTHING) that could potentially make a difference in SQ was on the table. Of course, each "new" idea introduced a level of complexity that grew exponentially. Cables matter. Any type. Any system. Any price point. And, "other" things. You just have to have access to a number of them, and the time to experiment.
I’’ll go back to my first visit by Bill Low, founder of Audioquest. He would break out a variety of speaker cables along with (surprise!) a jam box with removable speakers. And, the speaker price point progression demos began. It was very effective on a box that retailed for a couple hundred bucks -- at best. Recently, we were working on a little project for a friend which included a $99 Class D plate amp. This amp had a nasty upper midrange, sounded like mono coming out of 2 speakers, and no bottom end. First thoughts: "Sorry, but we can’t recommend this." I looked over at a premium power cord, and thought: "Nah." The tug-of-war went on for few more seconds, then I thought: "What the heck?" and plugged in the better PC. What was a completely unlistenable amp now had bass, imaging, and the "nastiness" went from "R" to "PG" rating.
I use a metric I refer to as "percentage of increase" in SQ for evaluating potential upgrades. A 10% improvement in SQ for a 10% increase in cost is a good value. A 10% increase in SQ at, say, 3% of the cost is a bargain. This could happen with cable upgrades, or component upgrades. Or, something else. But, it’s not surprising, in my world, that cables often offer better bang for the buck than component upgrades. Sometimes not. That’s why listening to a range of possibilities (with an open mind) is the key.
@ghdprentice comment about a particular manufacturer’s products at various price points interacting with the system in a similar manner is interesting. I can accept this premise in that a manufacturer’s design philosophy is usually consistent throughout. Mainly, more/better materials as price increases.