CD quality means around 100dB SINAD. The best that was achieved with Dolby SR was around 70dB.This, however, is neither the best deck ever, nor does it have a compander. The top machines, with companders, could approach CD quality.
That said, analog tape is a relatively short-lived and expensive medium.
Here's a nice "summary": https://en.wikipedia.org/wiki/Reel-to-reel_audio_tape_recording
The analogue tape was widely used since early 50s till late 80s. So far digital still haven’t over-lived it. I wouldn’t call it a “short-lived” medium.