A manufacturer once told me that when reviewers review his equipment, they hear most of what he did. What I think differs is priorities -- the kind of music someone prefers, what they value most about sound. And also to some extent perspective, since no one can hear every piece of equipment under ideal conditions.
I've found personally that when it comes to subjective reviews, I have to calibrate the critics, and find those who share my tastes and priorities. But like the manufacturer I mentioned, I've found that they typically hear what I hear -- which is a good confirmation that I'm not imagining things if I read the review after I've listened myself -- but that they may have different sonic priorities or listen through very different systems. Once I'm familiar with a reviewer's preferences, I find the reviews helpful, albeit there's ultimately no substitute for hearing a piece of gear in good conditions.
I'd add that as an engineer, I've gone down the "objective" route several times over the years and been burned each time. The measurement suite in a magazine is too limited to fully encompass the sound of a product, the interpretation of the measurements too difficult. Just try listening to crossover notch distortion sometime, and compare its audibility to harmonic distortion. There's even a formula for the audibility of harmonic distortion -- as you might expect, the higher the harmonic the more audible it is -- making a single harmonic distortion figure next to meaningless.
Not that I can't tell something about the sound of equipment from the measurements -- but as I like to put it, where is the measurement for reproduction of depth? I actually know of many technical factors that influence that, including the timing of early reflections, the polar pattern, consistency of polar response ("power response"), baffle diffraction, group delay, stochastic timing in DAC's, amplitude response, even phase inverted third harmonic distortion. And there are no doubt other factors as well. So how are you going to infer that from measurements? You just can't, not completely, anyway.
Even where I know how something that is frequently measured, how do you translate the measurement into what you hear? Jitter, say -- jitter rejection is routinely measured, and I know what jitter sounds like. But I have no idea at what point I'd hear it. I'm sure that a DAC designer does, but I don't have that level of expertise.
I find measurements interesting because as an engineer I'm curious about how the correlate to what we hear and because they're important to design, and of course they can tell you something about the sound -- but ultimately, I know of no substitute for listening, despite all the vagaries and subjectivity.