It all depends.
Obviously there continues to be evolution across the whole technology spectrum.
There was a time where everything was analog. The came CDs, DVD SACD, BD and now downloading and streaming.
So obviously vintage gear is not compatible with a vast amount of current technology.
However in terms of basic construction the vintage gear generally wins hands down.
A reel to reel tape recorder not designed, engineered and built to the most exacting standards will sound awful. No error correction back then!
I personally think that the best vintage turntables
which play the technology of yesteryear are in the vast majority of cases better then the modern efforts.
Power amps in particular from yesteryear can perform very well indeed. The best designs have proved reliable.
Vintage FM tuners are another case in point where the best of them are vintage.
Speakers are a very mixed bag. There are very few vintage speakers that are any good. In many ways you could say the same about current ones.
However if you have a nice set of TDL speakers say from 30 to 40 years ago, they will compete against pretty much anything now and far best the majority, even expensive ones.
Then as now, there was a lot of junk about.
What is irritating is how people now laud a lot of old junk. It was junk then and is now.
The problem with providing a home and a good use for older gear, is that you have to be highly discriminating.
If you look at eBay you can see that collectors are discriminating, by the high prices paid for the best and still useful gear from out past.
I have always selected my gear with the utmost care, and have made very few bad choices over the years. The result is, I still have most of it. I have restored a few units from eBay to compliment existing units to make for a fully functional archiving studio or to an extent museum if you will.
What astounds visitors who spend any extended time here is how the sound actually compares so favorably with the best of modern gear.
Careful design makes for longevity. My rear back speakers compare favorably with my mains, yet the design was perfected between 1984 and 1994.
It really is the same with all collecting be it cars, tractors or audio.
When I bought this lake home, I thought like most lake home owners an ATV is part of the basics.
However I determined that the available ATVs were junk.
So I looked for, and bought, a 1948 Willys CJ 2A jeep. The purchase and restoration was essentially identical to the cost of a top of the line ATV in 2000.
The fact is that the CJ 2A is more useful and reliable than the the ATVs. None of the ATVs of the neighbors here bought at the same time as mine are around.
The two vintage tractors are also performing well after I bought them 17 years ago.
I'm just about to get on the old 1948 JD model A and move the large recent snowfall.
As in all things you have to be discriminating, and most are not. That is the issue.