Hi end audio equip sounds better today than in decades past due to tech - T/F

I am in a hi-end audio store today, speaking with the owner, who has been in the audio business for almost 40 yrs. Super nice guy. Can talk up a storm - but as a good thing... where someone like me can learn a thing or two.

He said something that I found curious... audio equipment (pres, amps, rcvrs, speakers) sound better today than just 20 years ago, b/c ’they didn’t have the same technology back then we have today'. Why? Better materials, better components, better r/d... the stuff just sounds better in today’s world, he is telling me.

Coming from someone who doesn’t know any better.... is there any truth to this?