Their is a similar thread on AVSForum about "Is Home Theater Dying?"
I owned my first real stereo system in the 60's. [Yes, I'm old]. I've spent massive amounts of money over the years to try to achieve audio nirvana [which this side of Heaven, doesn't exist]. I've been in and around the audio [and now home theater audio] business for well over 50 years. There is not enough money in the Universe that can be spent to be able to totally and accurately reproduce live music other than with live music. Never happening. For one of my previous birthdays, my wife hired a 3 piece jazz combo to play in our home. It was that event that convinced me [and a fellow audiophile who has one of the very best 2 channel systems I have ever heard] that we are still a bazillion miles from our goal [as apposed to 2 bazillion miles 60 years ago]. It was also that event that sent me in a different [and a slightly more "fulfilling"] direction .
Want to attract more women? For 2 channel, not going to happen. Want to attract more younger men? For 2-channel, not going to happen. The days of a listener [alone] sitting in a semi dark room, with speakers and boxes and wires strewn all over the room, and him admiring his shiny metal equipment and pretending he can "see' an orchestra or female vocalist or rock band are gone. Put a fork in it. Done. In the next 5 years? No. Don't know how long but the party's over. And the cost of equipment being obscenely high has zero to do with it. If listening to/enjoying great music is REALLY our primary goal, the equipment cost won't keep folks from doing that. My daughter and son-in-law make 2 to 3 times the money I did in my best years; own 2 homes [one fully paid for]; drive $150,000 worth of cars. All of their "spare" time is spent in "activities". And for music, they go to live concerts.
Change the end objective and maybe, just maybe, there's hope [and this applies to home theater as well].
Add visuals [youtube music or BluRay concerts];
Add surround sound [e.g. Apple Atmos/Spatial Audio].
Hide the equipment to provide a less sterile, "equipment lab" environment;
Make the decor more inviting [forget all dark/black rooms];
Change the lighting;
In a home theater, dump the high back traditional theater chairs and replace with sofas, sectionals; coffee tables. Add a bar behind the seating.
Up-mix 2-channel to use all of the speakers in the room [Auro?]. Still a bazillion miles from live but certainly f far more immersive than 2 channels;
Get your spouse involved in the room [cosmetic] design process;
The end result of these recommendations [and probably more] should be an “involving, immersive, experience” and NOT replicating live music. not a theater or a music room. I've been in a very few [not necessarily perfect in the cosmetic category] . It can be transformational. And no, my room is most certainly not one of them - at least cosmetically [though I did dump the theater chairs for a sectional sofa].
YMMV.