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I'm not a expert but doing a memory search, during the late 70's in high school, I don't remember most high school kids having more than decent stereos. In the early 80's, the vast majority of dorm rooms or apartments didn't have great stereos, just a few apartments with Technics/Pioneer/Sansui complete systems and usually for partying reasons, not great sound. There was a friend of a friend who had his equalizer sliders set in a giant smile pattern!
The St. Louis area I grew up in did have a very strong economy back then. A ton of good paying jobs. Boat & water ski dealers, Speed & machine shops, Hifi & Electronics stores, Custom car and boat audio install shops, guns & ammo shops, oval & drag car chassis shops, and even quite a few scuba diving shops. These businesses were making money hand-over-fist back then talking to most owners and it seemed like everyone had multiple hobbies. So maybe it was just my area ?? who knows.
I was on the train coming home from work yesterday and the woman near me was watching a film on her iPad, but at the same time was doing other things on her phone.