That's what people always been saying, and of course the general public really don't care how it sounds
I've done (market, not academic) research directly with consumers on this topic and it's not exactly true. The average person actually does want good sound quality. If they are shopping for gear, generally the goal is to get the best sound within their budget, just like any of us.
What's different is they don't know or particularly care how the gear works or how it produces good sound. They also don't have the vocabulary or listening experience to finely discriminate between gear with better or worse sound. Their budgets also tend to be far short of what will get you real hi-fi as defined on ASR. $100 or $200 tends to be the ceiling, not the floor.
I guess it's fair to say they don't "really" care. Just like most people who drive or drink wine don't "really" care about cars or wine. But I also think more people than you'd expect could get excited about good sound under the right circumstances.
A nice stereo is just not the status symbol it used to be. People don't have a lot of space for them, TVs tend to be the centerpiece and not a stereo. And opportunities to appreciate why a $1000 stereo might be worth thinking about over a $100 bluetooth speaker do not abound. It doesn't help that "audiophiles" have a vague but definite reputation of being fussy weirdos who love to spend large sums on esoteric nonsense. There is a perception that achieving hifi is a truly unreasonable goal.
The industry at large has a branding problem made worse by so many of its marketing channels being taken over by snake oil and nonsense. Let's be frank: If you are a layperson who walks into a hi-fi show like Axpona with some money to spend, you are liable to get scammed. That's the best word for it. Same goes for opening up many of the hi-fi blogs or forums.
If a subjectivist audiophile shows off their latest $4000 DAC purchase to their layperson friends, the friends will, at best, perceive a slight difference due to placebo and that's it. This does not get anyone into the hobby. This does not expand its footprint. It cements the perception of the hobby as being a questionable money pit for fussy weirdos.
What would get people into the hobby? Going to someone's house and hearing loud, clean sound with deep, controlled bass.
Perhaps the whole problem with the industry is too much money going into electronics and not enough into speakers.
If history had gone another way, "audiophile" wouldn't mean fussy weirdo, it would mean someone that knows how to build a badass stereo system on a budget. And that would be more useful in getting average people into hi-fi.