The limited number of Hi-Res files I have to listen to sound quite good on my modest system: Hypex Amps, Emotiva DACs, TinkerBoard with Volumio, DIY SEAS monitors, my CDs stored on NAS and streamed over Volumio.
Part of that is that I suspect that particular care was taken in the recording, mixing, etc. of the Hi-Res music, many times created by lesser known artists. I have some Redbook CD's that sound fantastic, and others sound like excrement. A lot has to do with how the record was produced.
When Sony and Phillips determined the specs for CD's it was a very different world. The CD fairly rapidly diminished vinyl. Now streaming has diminished the CD, and vinyl has made a comeback, as has cassette, IMHO more out of nostalgia than anything else.
The reason Hi-Res has not taken off is that the masses who consume music do not listen critically. Lossy formats are good enough for them to blast in their earbuds or in their cars.
It is only a small percentage of us audio freaks who closely and critically listen to music. Now that Hi-Res and streaming have become affordable enough for a slow growth in distribution to occur, I welcome it.
If one guy picked it right 8 out of 10 times, that is meaningful. Given the average person's hearing, the average person may never be able to detect a delta between lossy, Redbook or Hi-Res. If some can, and I think I am one of them, then it is worth it.