To my understanding: the signal-to-noise ratio (roughly the equivalent of dynamic range, noting the absence of quantization noise but presence of tape hiss) of a professional
reel-to-reel 1/4 inch tape recorder would be between 60 and 70 dB at the recorder's rated output... though that includes "hiss" (hence why Dolby NR A/B/S were in widespread use on cassette decks)
And that's when it's pristine. Wear from friction between the tape and the heads, guides, and other parts of the
tape transport as the tape slides over them. The brown residue deposited on swabs during cleaning of a tape machine's tape path is actually particles of magnetic coating shed from tapes.
Sticky-shed syndrome is a prevalent problem with older tapes. Tapes can also suffer creasing, stretching, and frilling of the edges of the plastic tape base, particularly from low-quality or out-of-alignment tape decks. Wow and flutter are back in play as well.
Meanwhile an SACD is 120db and suffers literally none of the above issues.
Quibbles about what's good enough / the non-suckage of tape aside: I think we primarily agree. The modern digital formats are more convenient and capable of higher fidelity; but suffer from inattentive or misguided mastering.