Although this would be theoretically possible, IMHO it is not the objective of sound reproduction. Sound reproduction must take in consideration that it wants to reproduce a real experience where you were not blindfolded and where you have used your sight, emotional experience and brains to create the whole scene. Only much later on you put the blindfold and try to recreate an enjoyable experience.
Sure, an convincing holographic moving visual image of the performers would certainly add to the illusion of a live musical performance. However, we have enough technical challenge in obtaining a convincing auditory illusion, let alone a convincing visual one. An live musical performance can be convincing wholly on the auditory experience, with no visual content, while the reverse is not true. So, I suppose I'm failing to see the basis for the suggestion that the objective of sound reproduction is not an auditory experience convincingly like the live original performance event. If not the only desirable aspect of a live musical performance I'd argue that it is the only indispensable aspect. The only essential aspect.