We used to use the word Hifi as a pejorative, in the same way as I think some people use audiophile. Saying a system or component was hifi meant that it highlighted things like a sparkly treble, tight but robotic bass, transparency and a delineated soundstage. The pejorative part was that these elements kind of obscured or overshadowed the heart and meaning of the music, the expressiveness. Usually this was used by fans of vintage gear like Garrard turntables and field coil drivers
. And I do sympathize with the sentiment, but I don't have much in the way of vintage gear these days.