Typically, the most ridiculous excess systems end up being more "looking" systems than listening. Most are following some interior fashion decor trend, consisting mostly of hard/sterile environments, with the same, token (albeit limited bandwidth) and visible (cha-ching too!) room treatments.
I am thankful that I believe current knowns on how to do much more, with much less, and that Harman pretty much figured me out, decades ago.
As far as audiophiles dying out. . . .so much of audiophilia was based on a now seemingly absent physical/social interaction. Massive systems now are for a solo listener, more often than not. The rooms are still modelled for a crowd, but usually it will be one seat that shows any wear. Every person I know, that built a home in the last 20 years with a dedicated entertainment room, ended up mothballing the project once the novelty wore off. Is where I ended up getting most of my free audio equipment, or at a huge discount. One in particular, was trying to load me up with everything that could fit in my truck, just to get it out of their house, even though I was just there for a pair of speakers.
I have had younger people ask me in the last few years, how I could "sit" to listen to LPs from front to back. I don't think anyone born after about 1985, has the attention span for such critical listening. They have to be either constantly distracted, or asleep. I have noticed how this can happen with my own technical thresholds being so heightened. It took me awhile to learn to relax and focus again and to ignore the (I used to unplug the landline, back in the day) phone. Now, I even walk away from the PC, and go sit in with one of my systems with nothing other than music happening. It takes more self discipline than it used to, for sure.