I think there are two valid approaches to loudspeaker design. One, transparent window to the recorded event, and two, loudspeakers that go for a pleasing "house" sound. Of course, whatever that house sound may be, it won't please everyone, hence we have some 200+ loudspeaker producers.
You have to remember that speakers that pursue goal #1 are very revealing of upstream components and source material. Loudspeakers of this caliber are apt to sound like utter dog crap with the wrong components, and they certainly won't be flattering to your beloved, but questionably recorded sources. Because of this, hi-fidelity two channel systems are usually the result of a long and expensive series of experiments, matching the right components with the right loudspeaker. In the end, this system may create magic in the listening space, but it is also going to be limited in the material it plays back, as it will be just as picky about sources as it was components.
I love the 18th and 19th century masters as much as anyone, but having spent the better part of the 80s in a hardcore punk band I also have a predilection for 80s underground music. I would much rather listen to Black Flag on a pair of $1k/pair speakers than I would through a pair of that are going to expose every flaw and blemish and in the end make the material practically unlistenable.
And quadriverfalls hit the nail on the head. A lot of people who pursue hi-fidelity end up with sterile sounding systems that call attention to the fact that it is a reproduction and not the real thing. Tube amps are still in use after all these years because they add an analog factor back into the equation and produce something that sounds a little less like a facsimile to our ears.