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.  
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Ohhh the hate for WBers, Its clear to me now,. As much as you guys hate WBers is the exact same hate I have for A-Z xover types.
Wouldnt pay a  dime for a  xover type. 
Ohhh the hate for WBers, Its clear to me now,. As much as you guys hate WBers is the exact same hate I have for A-Z xover types.
I don't hate wideband drivers. I have never said that. I have never heard one that compelled me to purchase it. I.E.- I don't find them to be better than what I have on hand. If I found one that I liked enough, I would pay the amount respective to its performance. Why would anyone hate a speaker? Pretty bizarre thought process. 
I feel like I got dragged to @mozartfan's off-off-Broadway one man show. There are 4 people in the audience. Two are asleep, one is scrolling on his phone. His partner is the fourth, daydreaming of the scene in Inglorious Bastards where the theater burns.

Cheers,
Spencer