(The following is an unfinished narrative of the history of MQA imagined from an insider perspective.)
The story of MQA begins with Bob waking up one morning and thinking, "how can I make some money?" His hardware business, Meridian, was losing money, and his earlier foray into digital formats, MLP, had had limited success. Clearly, a new approach was needed. The labels control the music, Bob thought, and thus the flow of money. Something to tap into, but how?
What do the labels desire the most? "Control," Bob said to himself, "and that's what I'll sell them." In another word, DRM. An end to the scourge of piracy. Of course, the music-buying public had long ago rejected DRM, so something clever was needed.
DRM is based on cryptography, and besides secrecy, cryptography can also be used to verify authenticity. Discerning music lovers care about provenance, and what better assurance could there be than an authentic signature from the label itself? Bob had found his Trojan horse.
With a plan to conquer both the music labels and the consumers, one market player still remained unexploited, the hardware vendors. How could they be persuaded to contribute to Bob's fortune? The answer, he decided, was to insist that his new format be decoded only within the DAC. This would also be a further incentive for the labels in that DRM coverage would extend all the way to the analogue stage, elegantly preventing copying without losses, just like in the good old days.
The files were on Spotify the whole time, and a quick analysis has been done.
