Consider your average pricey massively built conventionally dynamic loudspeakers. These are still what most audiophiles listen to and also used widely in the professional world. Most of these have appalling distortion that is hugely worse than even a really bad SET amplifier. You only have to look at distortion measurements in ASR to see how bad loudspeakers are. It’s a joke.
Here’s a famous example. This is the famous JBL M2, a top quality pro loudspeaker that costs around 30 grand once you factor in the special Crown amplifiers that do the crossover digitally and are custom designed for the M2. Here’s the total harmonic distortion at 86 dB at 1 meter. Notice throughout the bass region, distortion is around -45dB. In digital terms, each bit corresponds to 6dB (compact discs recorded at 16 bit have 96 dB maximum S/N ratio). The JBL cannot resolve even 8 bits of information in the bass. Most audiophile speakers are much worse. The only exceptions are Quad electrostatics that have distortion around -70dB, but only at moderate volumes, and Kliipsch La Scalas or Klipschorn that can have -70 dB (around 0.1 THD) at far higher volumes.
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For true hifi, you have to solve this problem. It will require new physics, perhaps new mathematics and clever engineering. We are nowhere near hearing what is on the billions of compact discs that have been around for 40 years. As for high res 24-bit, forget about it. That’s a pipe dream right now. To resolve 24-bits of information, a loudspeaker has to have distortion of around -140dB. That’s not even remotely possible even if you were to spend a billion dollars on a loudspeaker. No one knows how to design such a loudspeaker.