I think this ties in more with the decrease in quality of movie/music sound mixing. There are current movies coming to theaters with mixing so bad that they have to rerelease it with the proper audio (such as Across the Spiderverse). Many, MANY albums that release today have noticeable digital clipping because engineers have now assumed that high gain is always better etc. etc.
There used to be a reason to have a 5.1 surround system, because that's how the movies were supposed to be enjoyed. There used to be a reason to engineer your home "soundstage" because that's how the music was mixed and optimally appreciated.
I don't think the bar of entry being money is truly the reason, rather that people have become much more passive consumers of media, and the producers have recognized that and absolutely enshittified their products.
As for the cheap speakers = cinematic experience, watch Interstellar with 5.1, then with the soundbar and tell me how equal the experience is.
I think audio really took a hit in the 90s and early 2000s when home theater became a lot cheaper and a lot more accessible and so too did the quality. Guys would spend their life savings on some crazy Polk or JBLs back in the day, and they were genuinely good quality and expensive.
I always thought "Blinded by the light" was a garbage song hearing it on the radio all the time, but after listening to the album on my dad's JBL L100's, I understand why he's such a vintage purist. It changed the sound of the song completely. The speakers picked up things I had literally never heard before.
I know nothing about audio engineering, but it does seem like the art has sort of died out or became "more productionized".
I have what essentially is a mastering suite (i just don't do mastering very often) at home and the difference in quality between the majority of modern music and the majority of older music say 25 years and older is large. There are many exceptions that sound amazing that are older, often done by very talented people in the best studios at the time. But one difference, hugely generalising, is dynamics, older music can have more dynamic range with modern music being basically a sausage of audio.
When people come over and want to listen, I usually have to tell them that it might actually be a disappointment to hear your favourite album is badly recorded next to something that is musically garbage but sounds fantastic. Or you wont be able to unhear the amount of distortion on Adele’s voice.
There used to be a reason to have a 5.1 surround system, because that's how the movies were supposed to be enjoyed. There used to be a reason to engineer your home "soundstage" because that's how the music was mixed and optimally appreciated.
I don't think the bar of entry being money is truly the reason, rather that people have become much more passive consumers of media, and the producers have recognized that and absolutely enshittified their products.
As for the cheap speakers = cinematic experience, watch Interstellar with 5.1, then with the soundbar and tell me how equal the experience is.