From the perspective of someone who has spent thirty years working in the advertising and PR industries I might venture that such calls to the benign guidance of "markets" rather miss how things typically work.
Individual posters, or clusters of posters, can have a huge impact on what people buy. Mostly because they are read as having no commercial skin in the game and because those who are looking to spend actively seek out such posts. People believe the internet far more readily than they will believe a manufacturer or dealer.
Yet, as Arkless rather astutely points out earlier in this thread, those who have personally made big spending calls are anything but neutral or objective. Self-affirmation bias is very powerful. Publishing praise on the internet - rather like fancy packaging or clever branding- makes us feel better about our choices and attracts pats on the back and professions of envy from kind people who enjoy making others feel happy. It also somehow weds us to what we've written in very personal ways that can eventually lead to a particular brand or a particular technology becoming a part of a persons identity and one in which they might put serious effort into promoting. Direct from consumer "advertising" has probably supplanted all other forms of marketing now as the most powerful driver of sales around. For better or worse you can decide for yourselves. But let's just say that it is , rather obviously, completely unregulated and unmoderated. And, therefore, there are no limits to how misleading or untruthful it can be.
This is tricky no? We don't want to upset each other by challenging choices others have made (who cares right?) but nor should we want more people to be drawn into buying expensive things that will likely disappoint. Finding an effective balance isn't easy.
Perhaps it would help to remind ourselves that no-one should ever feel defined or judged by by their buying decisions. None of us has a consumer led personality. And perhaps we should pause before posting paeans to our latest fabulous gizmo and remind ourselves that we all feel a powerful need to believe in what we've done and the choices we've made. And yet we also have a duty not to exaggerate or make up nonsense about expensive stuff we've bought. That is not a harmless thing to do in public.
I agree with this to a point but forums generally add a balance - no matter how much one person raves about some product and no matter how eloquent their writing, there will always be another poster who comes along and dumps on it. Individual bias exists whether people want to admit it or not. As an audio reviewer, I generally try my best to tell the reader up front what my bias is. I am not a fan of reviewers who rave about a $6,000 loudspeaker and then tell me in person that they prefer a $4,000 speaker and would in fact buy said $4,000, speaker. No mention of that was made in the review. Or other reviewers who rave about a speaker but don't mention they found it to be a little bright - the one thing that would annoy most listeners (Magnepan 1.6). Then 5 years later they review the new model (1.7) and mention then that it fixed the brightness issue.
Reviewers can only report their own personal experiences which can largely not be shared by others in the same way. I'll use my Audio Note OTO Phono SE integrated amplifier as an example. When I write about this amplifier today (19 years old without fail) I can write about the sound but it is still only in the context of my speakers and in my room. At 10 watts per channel, it will mightily struggle with some speakers. Hi-Fi Choice noted that it is an "idiosyncratic" product and while it won their blind level matched sessions - it is too underpowered for the majority of the consumer market (4.2 watts per channel undistorted). So that is a fair analysis - if you're buying these sorts of amps you are not buying them based on a review or audio forums - you really have to listen - a Bryston will drive everything but a 4.2 watt amp most definitely will not.
I don't have problems with fanboys - there are maggie fans where nothing else will do. They have a passion for that sound signature. I generally like to listen to the brands that create great emotional attachments for their consumers - I may not like it but that's not the point - the point is that it makes them happy. And when I am out in Hong Kong the land that carries practically every major audio product I often try and drop in and listen to them just in case the light dawns on me about them. I had a guy on a forum who blasted my speakers all the time - they suck, overrated, overpriced, boomy, and on it went for a couple of years. Then he went to a California show and the dealer made a special corner panel for the speakers designed for corners. The hotels usually suck so he built his own corners. This fellow then came back and said it was the best sound he has ever heard at any show ever - and he went to many every year for decades. There are rooms that I had down dead last at one show that I had them ranked 1-2 at the next. Since then, I have been far more open to more gear that I previously disliked.
Moreover, none of this stuff is particularly important in the life and death of the world. First-world problems. I have a $400 Marantz receiver - I can listen all day on that thing. It's not a train wreck. Music is more important than the gear. You don't have to spend a ton of money. The people who spend the ton of money have the money to spend - they and I feel it is better - but it's not necessary to enjoy music. These are "want" items not "need" items. If someone buys a $3,000 interconnect cable, my kneejerk reaction is that he is getting conned. On the other hand, if he can spend $3,000 on an IC then he probably doesn't have the same problems the rest of the world has. People spend $12,000 on a watch that doesn't tell the time better than a $60 Timex (in fact it probably tells worse time) and it may have a Diamond but Diamond pricing is arbitrary BS. Or women and their LV handbags - Jeez.