A presentation for audiophiles, where Early probably referred to the common 5 inch thick absorber panels sold on various websites. So lets look at the effects of 16inch/40cm thick porous absorption stacked 35inch/90cm high against 3 of the 4 walls in another studio:
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You can see how absorbtion killed multiple resonances around 35Hz and 50Hz and in other places filled in dips (where EQ is not a solution as you know). Around 50Hz the absorption removed a peak of 7dB in the frequency response (everywhere, not just on the listening position), solving the main problem the client was struggling with.
The RT30 graph might give a clearer visualization of the effect in the low end:
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Maybe the discussion can become a bit more nuanced after the different examples given in this thread. There's a difference between porous absorbers don't work in the low end versus I don't have the space to install a sufficient amount of it. And of course there are other types of acoustic panels which might be better suited for certain problems, but they will also require a serious area of walls to be covered.