No, not at all. It is a concept that does not derive at all from audio, but it is usefully applicable to audio.
F. Toole on the subject:
THE “WILLING SUSPENSION OF DISBELIEF"
Samuel Taylor Coleridge (1772–1834), English poet, critic,
and philosopher, wrote “Biographia Literaria” (1817), in
which he describes how, in his “Lyrical Ballads,” his
“endeavours should be directed to persons and characters
supernatural, or at least romantic, yet so as to transfer from
our inward nature a human interest and a semblance of
truth sufficient to procure for these shadows of imagination
that willing suspension of disbelief for the moment, which
constitutes poetic faith.” This quote, or at least the “willing
suspension of disbelief” portion, has become a mantra of
the entertainment industry. It means that it is possible to
convince masses of people to accept premises about where
they are (e.g., imaginary worlds) and what might be possible
(e.g., assorted monsters and superheros) and to
suspend their innate senses of reality and logic sufficient to
experience fear, excitement, and pleasure as if it were actually
happening—all in the interests of entertainment.
The beauty of the concept is that it avoids hi-fi artifacts language, and it avoids the complications of the particular sonic cues which idiosyncratically for each of us contribute to our subjective believability. It distills all of that down into a singular, linear, emotional engagement-based spectrum.
Do you consider that you should re-write your audiophile objectives to add
5. Achieve suspension of disbelief XX% of the listening time?