I don't hardly think that tone controls are used for 'room' correction by serious audiophiles. Or 'speaker' correction, either, for that matter.
I'll buy 'recording' correction, though. There are many recordings of music I like that leave much to be desired as far as the 'recording' is concerned.
And most of the time- I still listen to these recordings without tone adjustments.
"If you don't like the studio engineering of the recording, don't listen to it".
(You can't be serious

).
There is plenty of complex equalization going on in the studios today. Most of it is digital. Thankfully I don't like much of that stuff 'cause it ain't music to me. ( Well, with maybe one or two exceptions ).
I collect music from the '20's up thru today's music. Jazz of all types. Blues. R&B. Classical. Vocals. Some Rock (not much). Like I said, some older recordings need some 'help'. I try not to 'help' it too much
The music is still more important than the equipment, right?
WEEZ