> My Alexa Echo Dot 4 sounds better than my home audio setup from the 90s.
I think it is more like a "good enough" sound. There are still are hifi-enthusiasts, but I think most people don't see the reason to spend a fortune just to listen to music. Mostly, because people don't even know what a difference a good hifi setup brings to your life or they just don't care.
I always wanted to try building the "World's best speakers"[1] by Technical Ingredients just for fun and education, but in the end I did not care enough to spend the time and money.