The idea that we don't need any sort of isolation devices, including racks, because equipment should have no flaws is clearly preposterous. Amir has shown that some equipment that is easily available and even popular has its flaws (PSAudio Perfectwave DAC being an obvious example). It seems likely to me that equipment can be less then perfect in many ways, including their construction and feet. If we accept that then it is reasonable to consider ways of dealing with such shortcomings. Racks and isolation devices are one way.
Microphony, seismic vibrations, turntables, spikes and other feet..... It is clear there are areas where isolation devices, including racks, may play a part. For example, using common sense, which seems to be acceptable on here, turntables seem clearly vulnerable to vibrations. Other equipment with moving parts such as CD Transports could also be at risk. It's less clear why a DAC or amp should be troubled by external vibrations unless microphony plays a part.
I don't know the answers but I do know of some attempts to find answers:
https://pinkfishmedia.net/forum/threads/microphony.174095/
Unfortunately it seems the images are lost but the text explains most of it. The general thought was there are effects but they are so tiny as to be irrelevant.
This theory makes sense to me.
http://www.barrydiamentaudio.com/vibration.htm
Townshend explaining his products:
As always, there may be an effect but is it audible in practical use?
In my own very limited experience I detected an effect from adding a lot of isolation devices - feet and shelves - to all the gear and speakers. The effect is described as 'less smeared transients'. It was a small effect, undoubtedly not worth the investment, but it was there. How to measure it I've no idea. It certainly was not expectation bias as I didn't know what to listen for. I just heard a change - the sound was a bit louder and things like rhythm guitar and piano were a bit more noticeable. That turned out to be what less smeared transients sounds like.
I would love a full investigation on this matter. It strikes me there is a lot of confusion and lack of understanding in the area (certainly with me before anyone else says so!)