I'm more familiar with the less expensive end of the audio spectrum, but I'll say it again: There has never been a better time to buy good sound reproduction. With Tidal making all the presumably illegal rips (folks that have 1TB or more that represents over $100k in music) largely obsolete, $200 MQA DAC's (Meridian Explorer 2), and active speakers like JBL LSR305 (street price $260/pair) a very fine system can be put together for under $500 USD.
Product cost has never been a guarantee of quality, which is still true today. The wealthier (and perhaps DIYers) are more susceptible to the "emperor's new clothes syndrome" than the more blue collar among us. And after nearly 50 years at this I still haven't found a tweak that actually works. And buying into the latest digital trend or product is still a crap shoot.
But overall I'd agree, but that's not to say that there isn't still duds out there. Companies go out of business (some very quickly in this time of fast paced change). Quality control has improved but can still be iffy (especially with no nearby dealer and the pressure to build with cheap labor). Of course sometimes products don't just synergize. And occasionally a product is simply a flop (in terms of sound, design, or build quality). And IMO vendors at audio shows routinely lay some of the biggest eggs in the industry with hurried, ill prepared setups of good gear.