Hi,
Well, I would argue that there's more audio enthusiasts now than ever before. There's an actual market to be a music creator at all levels and tons of people create music from DAW's now. It's cheaper to hire a content creator to make you a new track on their DAW than it is to license someone else's music for use.
Lo-fi is all the rage right now. Everything is using it. All comercials have a low-fi beat going on, that was made in a few hours on a DAW with sampling. And these people are using very high quality studio monitors, headphones, etc, to mix on. But the current trend is to take high quality sampling and make it sound low fidelity with artificial pops and clicks like its a record even and warped sounds from broken retro gear. Just listen to every commercial. Listen to any ad. It's everywhere! People are slurping it up. Channels stream it all day long. And more and more people are working music content creators than ever, making this kind of stuff and churning out material than ever before, again, because its unique to the buyer/consumer and doesn't have to be licensed from some big company/label to use.
But how do we translate this current experience of wirelessly, bluetooth, streaming beats, electronic music, mixed samples, etc, into traditional hi-fi? I don't think it will. There are people who are heavy into retro. There always will be. But how do we take today's culture and fit hi fi systems into it? I don't think it's going to be simple. If it's not wireless and can be plopped down near their big TV or somewhere like the wildly popular (ugh) soundbar, people will continue to think soundbars on their TVs is Hi-Fi. To them. And then when they are shown a real hi-fi system, even a budget one, the size of it all, the cables, talking about the room, etc, placement, you lose them instantly. That's work. Most people are simply not in the hobby of audio preparation, they just want to listen to something and not have to work on it. That's for hobby enthusiasts (like most people here).
Hi-fi definitely needs a reboot. It will have a smaller and smaller market as things get wildly expensive and huge without being able to easily integrate into today's streaming tech and mobile tech. This is essential. The cost of these crazy streamers is so ludicrous for what they are. And competition is good, so we need more of that to help drive prices down.
The DIY audio market is bigger and better than ever too.
Want to fill everyone's home with a system? Built in amplifier and room correction procedure into the speaker (either a bookshelf class or floor stander) with HDMI, optical, USB, bluetooth, etc, connectivity built in. Have each speaker wirelessly talk to the other(s) on the system. Run the room correction to get the timings, etc, down. And don't make it cost thousands of dollars for the base unit with tiny little speakers. It needs to basically instantly be usable with someone's TV/mobile and internet for streaming and not have tons of wires and lots of steps to "set it up." But it can't be cliche Sonos junk and proprietary, it needs to be a pretty open standard so people can buy stuff and just integrate it. It probably needs an app for their mobile device that measures the room and shows you optimal places based on room harmonic orders to put the speakers. Make it easy for the masses to benefit really old well known concepts without them feeling like they have to go to school just to know where to put the sound box.
We are already seeing powered towers even with connectivity. We need more. But they need to not be $1k+ each.
Pricing hi-fi up in today's inflated economy, with no end in sight, will just kill the hobby for everyone except wealthy people or the dedicated enthusiast that will eat ramen for a few years to save up to buy that sweet Legacy Audio tower pair they wanted for a decade.
Very best,