Definition of "too Hi-Fi"

On numerous occasions others have described a speaker (or other component) as sounding “too Hi-Fi.” What does this mean? Isn't that exactly the goal? Doesn't High Fidelity mean faithful to the original, i.e., sounds like live music, live instruments, or a fool the ear impression of “I'm there,” or “they're here?” It seems contradictory to criticize something for being too close to perfection. Maybe that's taking it too literally. So. . ,

What does “too Hi-Fi” mean to you?