Yes. So-called 70v systems use high impedance, low current signaling to reduce transmission losses and allow large numbers of speakers to be wired in parallel. Of course, the downside is that you need a transformer at every speaker for the voltage / impedance step-down, and the small el-cheapo transformers that most systems use can only handle low power (before saturation) and they usually limit frequency response, especially in the bass. That's why the 70v strategy is normally restricted to speech PA systems and background music. Free lunches are non-existent in physics.
No free lunch unless you're moving at almost the speed of light, where it appears that other people are moving slower and you can take their food.
WRT 25V/70V, you're right- the cheap transformers definitely limit the low end and I doubt they're doing much good for the high end but they work great for speech and background audio. That said, the speakers for these uses are much better than they were in the past- I remember buying in-ceiling speakers for 70V in the late-'70s for not much more than five bucks (Calrad, Vanco, etc).
Losses can't be eliminated because, as you posted, there's no free lunch in physics but many methods of sending low level signal over (relatively) long distances have been developed and used in consumer systems for quite a while. Some can be a bit surprising when the low cost and simplicity are seen. I went to a supplier a few months ago and saw that they have baluns for digital audio. Two wires from Cat5e going in, RCA plug going out and rated for 180 meters. I thought it was worth a shot, so I tried them in a house I'm working on- they not only worked to send the digital audio from the kitchen to the rack in the basement, I was able to connect a second one at the receiving end for the home theater on the 2nd floor almost 100' away. Plugged into the S/PDIF input of the Krell home theater processor and it works great.
I'm probably going to start a separate thread about this, but I was told by someone in the A/V business that changing to a better optical 'cable' improved the sound and that someone else noticed the difference, too. How, unless the original had problems?