Quite a few times he does mention how close the Ref5SE is to the 40th - but each time he always indicates that the 40th does have the last word in most - if not all - of the attributes he describes
As usual, the more expensive unit is ALWAYS better than the cheaper one, especially for those who make money with it and a reviewer is not paid for his ears, he is paid to support the sales of the magazine he writes for. And a magazine survives from what? Probably from Air and Love and a few subscribers...
Never forget the most important rule in audio:
The more YOU can afford, the better will be your System.
Some may have doubts about that rule, but they are a minority :-)