Why? I'm not saying I disagree, I'm just curious about why it can't be attained? Are loudspeakers and microphones so fundamentally flawed that they prevent this?
Strictly speaking in the context of two-channel stereo, with the playback side in a domestic setting ...
In the grand scheme of things microphones can be made near-perfect, that's not the issue.
Loudspeakers are more of a problem. Today no-one even knows the requirements for the perfect loudspeaker, let alone that one can design for it. This is annoying and confusing.
The fundamental problem is with the (perceived) concept of 'high-fidelity'. 'Fidelity' is the troublemaker.
Fidelity to what, exactly?
Is the aim to transport the soundscape of a real event in a real music venue to the living room? Leaving aside practicalities of dynamics and of absolute sound levels, and the gross effect the latter has on the perceived tonal balance, this is still fundamentally impossible
over a decently-large population of recording venues, recording styles, and playback rooms. Some of the reasons are 1) two channels cannot convey a 3D sound field (despite hardcore 'philes illusions) and 2) the playback room is acoustically small, whereas a venue is large, meaning that the playback is royally ****ed up below 300Hz. There are other reasons as well.
Is the aim to transport the musicians to the living room? This can be done, conceptually, but it is not practical and it is not desirable. One could build a loudspeaker that copies the radiation pattern of a saxophone, and one could concoct a sax recording to feed to said speaker. The result will be a simulation of a sax in our room. The system breaks down when we want to hear a piano, and it gets ridiculous when we want to hear sax and piano together. Even so most of us would not be able to cope with a replica of real instruments in our rooms. The roof would come down. And even if that were not a problem, it would get hairy because the playback would not resemble any real-life (venue-based) event.
So if the aim of 'high-fidelity' is not to bring the musicians to our rooms, and if it routinely fails at transporting us to the music venues, than what the duck is the aim? When do we know we have attained it? And what does the fidelity thing have to do with it?
There are two ways out of this.
Either we really start persuing fidelity, meaning setting standards and starting
controlling the sound field in the living room. (After which it will look no longer like a room to live in.)
Or we drop the masks and accept that the aim is subjective pleasure, and that all related decisions are, in se, subjective. A large majority of music producers and of music listeners will persue broadly similar ideas that gravitate to a commonly-accepted plausible rendition of an acoustic event. This is valid. Some will gravitate to more outside-field concepts of recording and replay.
This too is valid.