I would go beyond the technical part of the story.
Music, in general, had more meaning to the people back then. Today, music is less and less answer to questions like: "Who am I?", or "How am I suppose to live my life?". In that world, a beautiful receiver such as the one above, would be like an altar in the living quarters of a worshiper. Today, those questions of identity and lifestyle are answered through social media, through trendy consumption and other forms of superficial self-promotion.
Music, at least mainstream music, is more and more marketing tool (it was a product even back then) to sell other stuff. Look at the richest music performers today. Most of them earned bulk of their money selling cosmetics, apparel and gadgets they endorse.
Is it any wonder that most people today give more money for other stuff, find more space for other stuff in their living quarters? Is it any wonder that big audio companies are going down and big investors are channeling their money in design, production and marketing of other stuff?