I have always thought that way too much is made of the decline of high end, of vinyl, and now of sacd and dvda. Technology is now more advanced and people have many ways to spend their entertainment dollars. I would grant that there were quality kits available in the past from Heath and Dyna as well as American manufactured equipment, such as Marantz and Fisher, but it was not cheaper than today if you adjust for inflation. And then as today the young with less money built the kits while the old bought councils with record changers and tuners.
There is no question that parts quality is much superior today and that the circuits being built today rest in the main on those that were conceived in the 20s and 30s. My sound reproduction today far surpasses anything that I could have achieved in the 60s, 70s, 80s, and 90s. I am very happy about this.
Similarly, sacds may be dying as vinyl was supposed to be dying, but I am spending more each year on newly available sacds. I have more cds, sacds, hdcds, and LPs than I could ever listen to in the remainder of my life and given the quality of new pop music, I care little whether it is ever available in hi-res.
Vinyl is another example. I have nearly doubled the size of my record collection in these last several years. Fortunately I only half believed those who said in the 70s that vinyl was dead. I almost considered selling all of my 4000 records but did not. Now I am hearing LPs reproducted unlike anything that was available in the 60s and 70s.
I do remember when the record companies ruined LPs by recording them on crapy solid state gear and pressing them on inferior, reprocessed vinyl. No one can ever say that those making decisions for recording companies have a clue about good recording. The advent of the MBA degree has also resulted in a greater focus on the bottom line to the exclusion of everything else. Book publishers haven't a clue about what is a good book, movie companies on a great movie, television networks on a great news show, universities on what is a good education, wine companies on a great wine, etc. MBAs make all decisions. There are a few people across all of these, who do their best to provide what is great. Fine them and enjoy. It can be done.