The thread says high end is facing a reckoning, like one foot in the grave and on life support. Then we have those talking gateway drug as if those buying cheap gear will eventually buy high end. This leads me to believe high end will always be here as it has always been. So which is it?
We have cheap decent sounding gear. We really have always had that. Now we are just seeing it more abundant. That may actually help high end as those users become more financially capable.
I think the OP is saying people are leaving their systems to gravitate to ChiFi. No one is doing that! Downsizing don't count.
Will the people buying entry level gear upgrade someday? Many variables. It comes down to passion and if you can hear the difference, assuming they have the financial means.
Purchasers of audio tastes and needs have always changed and the industry has changed with it. That's, not, going to change. Where's large woofer bulky box speakers today? Anyone remember how everyone was going to buy sub/sat systems and showrooms were flooded? Silver face, black face, audio is always changing. But, you know what, it is still here. I think it can be argued that high end is stronger than ever due to audio shows. Businesses have problems based on decisions made, some go under. Show me where high end companies are dropping like flies today.
Younger people are getting into LP's more than ever, most I talk to or read about say it's due to the sound. I belong to several audio groups on social media, many of them are guys who are into vintage gear. Some try these cheap Chi-Fi like Fozi, not sure if spelled correctly, the point is many of them through that stuff away and end up moving on. Those who want music to sound like music will buy gear that sounds like music.
I definitely agree high end gear is too expensive. I can name models that have pretty much double in price over the last few years.
Bottomline high end isn't going anywhere.