Yet loudspeakers are hopeless and barely pass any credible definition of the word high-fidelity, and as everything upstream has to exit through such a flawed window I'd argue the whole thing was an art - it is all a question of balancing out imperfection and finding a compromise you can accept.
I agree to some extent with the whole idea of balancing the system, but how you do that is where the arguments arise.
Some will swap amps, cables, dacs or whatever in order to attempt to tune the system. But this is incredibly haphazard IMO and often just doesn't work. Tuning a system with a dac change is like changing the car upholstery in the hope that it will go faster.
Nearly all non loudspeaker related system issues, leaving aside the basics of having enough power and not having too much noise etc, come down to issues of tonal presentation.
Too warm, too lean, a bit forward, a bit recessed, perhaps a bit hard, a front row presentation as opposed to middle of the hall etc, etc.
I would always maintain that the best way to tackle such issues is to use a dedicated solution and EQ the system to how
you want it to sound.
Here I perhaps disagree with Serge in that I don't think that absolute faithfulness to the source is
that important. Faithfulness to your own ideas of what sounds right is what counts.
The real problem is that hi-fi enthusiasts are EQ phobic because they've swallowed the line over the years that any form of tone control is bad.
I hear many systems and some really are quite shockingly bad - a tone control would be the least of the worries!