HiFi vs MidFi


I’m a relative noob to the audiophile scene, having just invested in an integrated amp and upscale (for me) speakers.  From time to time, I hear the term “MidFi” for some components.  Is there an objective or just largely accepted definition for this term?  I’d be curious to hear feedback on what constitutes HiFi vs. MidFi across various components.  
bigtex22
atmasphere-
An example of an inexpensive high end audio product was Radio Shack's Pro LX5 loudspeaker, which IIRC sold for about $250.00/pair. Tandy bought out Linaeum just so they could use that tweeter 
Cool. The sexiest most deep liquid 3D sound stage speaker I ever heard was my Linaeum Model 10 with the Linaeum tweeter. I still have the tweeters by the way (long story). Also I heard those Radio Shack speakers, awfully good for the money! But I did not know the part about Tandy buying them out and always wondered what happened with Linaeum. I was in the guy's basement design studio, in his home, for chrissakes! Now at least I know he made out well. Thanks, Ralph!
“I’d be curious to hear feedback on what constitutes HiFi vs. MidFi across various components.”

Perception?
“I’d be curious to hear feedback on what constitutes HiFi vs. MidFi across various components.”

Perception?
No- intention, more than anything else.
Plotting a graph - a line of delineation between Mid and Hi Fidelity would be about as flat as a refined in room power response ...
OP’s very first inquiry a couple of weeks ago is:  “I’ve narrowed down to the Sonus Faber Olympica 3 vs. Focal Kanta 3. Source is McIntosh 8900 integrated amp. I’ve heard the Focals and loved the seamless soundstage and precision. Going to hear the Olympicas this Friday. These would go in our main den (~300 sqft) for listening to jazz, rock, and country.  Thoughts?”

Iy looks like you then purchased the Sf’s.  Congratulations!   A fantastic Hifi set up.  

I have a NAD C368 and Blusound streamer feeding PS Audio S300 amp and Revel Proforma3 speakers. My system sounds very good to me but I consider it entry level hifi. 

I think the system you are putting together will be fantastic.