It seems aspiring to replicate a live performance should be indisputable. Either it sounds like the real thing or it doesn't. When attending a live performance, questions of whether I'm hearing an actual piano, strings, or voice do not arise...nor do I explore the imaging or air around the instruments. It's just the real thing. In contrast, when I listen to and assess an audio system, rarely, if ever am I fooled into believing live performers are in the room.
I have heard three reproductions that brought me very close. Back in the nineties Peter McGrath, a sound engineer, played Watt/Puppies in an immensely well designed room, fed by Master Tapes.
Vandersteen 7's driven by a digital amp, in another finely constructed space, had such airiness, and spatial real-ness...along with palpable tonality, that I had no need to close my eyes for added affectation.
And most recently, at Axpona, near the end of the evening, the Tidal room was streaming through a number of esoteric pieces with that occasional "you are there" presence.
But, unfortunately for the vast majority of my listening experiences, either the coloration or an etched detail create a hi fi rendering. And, often those systems that offer what at first appears to be something special, over time reveal missing ingredients.
In my system I recently added a Koetsu Coralstone cart., which has yet to be properly broken in, brings consistently more enjoyment and involvement in the music; and less focus on the components. Is it colored? Likely, but the density of strings...the size and pace of piano...authority of voice...decay of cymbals, temporarily creates a plausible illusion. Much of my equipment is from the nineties, with the exception of the cabling and speakers. I have gone through several changes over the years seeking out a simulated reproduction, from solid state to tubes and a mix there-of, and the closer I get the further the holy grail seems to be.