The best hifi has been made in the 70s and 80s. It was the time where there was a ton of research on circuits and materials and semiconductors and companies were willing to spend a fortune on R&D while taking risks.
Just look at the Sansui's for example, the bigger ones are still state of the art:
https://audio-database.com/SANSUI/amp/au-x1-e.html
DC-500KHz in 1979 and there were many, many models they never exported outside Japan, X11, X1111, AU-Alpha and the likes.
Sony also had their line of extreme quality gear with the first ESPRIT - VFET transistors, SMPS and the likes, all in the 70s.
I still find all that gear unmatched when it comes to technology used and I don't think we will ever surpass it.
Now it's often just grey matter made to push money. More of the same, low-effort repackaged simple circuitry with the chip MFG's textbook example applications, few boutique caps and that's it.
It's just sad seeing a €2k DAC or CD player with a sad single op-amp in the output stage.
Show me current gear that has a fully DC coupled signal path, high speed non-NFB etc. these days...