When you add up the differences in drive quality, analog output stage quality, digital output stage design you can start to understand that there are very large and audible differences between CD players, amplifiers, dacs, loudspeakers etc.
The "large and audible" part does not logically follow, and assumes far too much integrity on the part of the industry. There is plenty of stuff built from high quality parts that is inaccurate at best, and still more where the high quality parts do nothing *audibly different* (need I point out this has been replicated hundreds of times with a wide variety of equipment?). Sometimes the allegedly high quality build doesn't even *last* longer. Otherwise we could just budget more money, buy without listening or specifications, and have a better system. Many manufacturers are selling you status, bling, and manufactured flattery, not audible or important differences, IMO.
I believe if it were possible to scatter plot price vs sound quality, you would get a blob of points through which you might be able to fit an upwards-sloping curve (with decreasing slope and a low R^2), and you would get a handful of high-priced points as low in sound quality as many of the very low-priced points.