Here I am, my hi-fi system disconnected due to flooding that we had, listening to a Bose portable smart speaker that the wife and I bought for around the house. This thing sounds remarkably good, if not flat out excellent, depending on placement. The bass is prominent, which I have grown to really enjoy.
I can absolutely see the majority of people buying something like this and being thoroughly satisfied; they would get most of the way towards accurate sound, to the point where most wouldn't even be bothered to make up the difference, nor would they likely even notice. I know that's how I'm feeling right now. I was worried that I wouldn't be able to last the next few weeks without the main system as we repair the flood damage. But I am well-satisfied with this, even pleasantly so. Add to the pure convenience factor and it's no wonder listening habits have shifted away from the dedicated hi-fi system of the past.
I am always reminded in these situations of the scenes in Star Trek: TNG where one of the crew would be listening to music. You never see speakers or any other equipment. Presumably, in the future, the transducers would be hidden and sound would emanate from everywhere, or would fill the room from few sources built with advanced technology. We're getting ever closer, fellas.