This is a subject close to my heart. I have significant research and time into this field. High Res is necessary because
* The claim Sony Phillips got the best golden ears across the industry they could find at the time in developing red book CD, and the outcome was 44.1khz was settled on because a)None of the golden ears could hear a difference to LPs b) Nyquist Shannon processing law re-assured them all that they were ok is a nebulous myth. Human beings havent changed in psychoacoustics since the 70s and 80s. The standard wasnt biblically blessed and it is not transparent.
* A 16bit depth is not perfectly suitable because the human human hearing has around 120db of dynamic range and the act of quantization in 16bits doesnt meet this. I would tend to reject noise floor arguments which try to suggest yeah well add the noise floor in and its around the ball park too because arguing like 40db is lost to the listening location doesnt account to a quiet listening room with closed back headphones.
* A 16bit depth is a poor quantization approach for use cases where folk or hardware makers want to process digital audio further themselves for specific reasons
* With the sampling rate, no one educated would try to say that Nyquist Shannon is somehow wrong. The maths are clear and its proven time and again. Everyone rational agrees that 44.1khz is more than sufficient for reproducing the highest frequency that humans can hear, and its certainly way more than sufficient for the majority of the population who cant even hear beyond 15khz much.
* But, its "wrong" because were measuring the wrong things. We need as an industry to focus way more on psychoacoustics. Good start to explore the maximum frequency a human could ever hear. Dumb ass of the decade move though for Sony Phillips to try to declare that was it and now their "golden ears" cant even tell. Its BS. The real question beyond pre-school, the most basic next question, should have always been ok so high frequencies are covered, how do we deal with transients and directionality in human hearing?
* To answer that.................44.1 khz is 22.676 nanoseconds in time. Epic fail. Science knows that human beings have directionality sense in audio below 10 nano seconds. To properly be transparent, and indeed, even to a casual listener and anything but a "golden ear", a human being is very very good at figuring out directionality and anything less than what our brain processes every day from countless evolutionary pressures killing off half deaf cannon fodder to predators, what has remained through evolution is a human being that has clear perception of directionality to properly respond to threats of harm. And as well, cause harm to other animals on what we want as food lol
* Yes yes, its a horror show of countless data sets and all this pesky cardinality of it all in discrete maths......but we are humans and we have capabilities beyond hearing to understand and influence all this phenomenon. So if a human needs a few nanoseconds to not loose the sense of directionality, then, 768khz sample rate has a time interval of 1.302 nanoseconds which for all is known of science, exceeds what we determine for directionality
* I am not an expert on pyschoacoustics and I dare say, no one on this planet is either. There is massive parts of how the brain does all this which are entirely unknown. We dont actually know the full "specification" but our attempt at doing so with the CD standard was a laughable and childish attempt for sure. There is no way any "golden ear" ever declared CD to be transparent to LP, and the fact is, the most casual human knows its a digital recording to because the sample rate is way way less than what humans need for directionality