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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Mid fi,…hi fi. 

  If you can afford mid fi, THAT is hi fi!

  2000$ speakers, 700$ speakers,…..who cares.

  A 5000$ amp or a used 1500$ amp,….?
don’t matter. Clean the components, listen to them, care for them, and enjoy the magic of music!

  It took me 35+ years to get a BRAND, is there a massive difference in sound,
not too much you will really hear, maybe a tighter kick drum, or a slightly brighter or less bright tweeter,…….

   Just jam tunes !
don’t worry about it.

 My Onkyo m-504 I first bought, vs my Sunfire 600 sig, there is difference, only at higher volumes, where the headroom is a major factor!

    Not much difference, 
buy what you can afford, and save a little more,…..save a bit, sell the amp, use that to help move up a bit.

it’s a expensive hobby, so patience is paramount!

I guess I am naive - I didn't realize mid-fi was a thing. And apparently it's potentially an insult. 
 

I view hifi and audiophile as a label to be whatever the speaker wants it to be. 
 

If it's about listening to music and music reproduction it's hifi and someone has a little audiophile streak in them.  
 

One of my friends won't bring his kids to my house for fear they'll break something. And he enjoys music and the hi girls he put in his entertainment room. Granted it's a different price point but the enjoyment and sharing of the experience is all the same. 

This topic boggle my mind so I ask friend that over last night. Wife have part time model job with Victoria secrets. She have bunch of model friend over to celebrate end of season shoot. They always come to house let loose and most stay night in guest house and I make some extra space in basement gym for girl but I still need workout ever 6 hour we end up share space. I teach them do squats and lat pull down good for model body. My friend help me open pool house and position Wilson alexx on wheel so it easy. I have bass trap and tube pre and it float sweet stage out over pool it top notch. We have cigar while girl play volleyball in pool. My friend agree that this hifi because I appreciate sound. Some argue reflection not as good and is no proper boundary. I say whatever I not want to hear call midfi. Even when girl have chicken fight screaming and pulling everything off we still able to get pinpoint image and the bass still tight and focus. Just because I not sit still with head not move alone in room you call this mid fi? I say all interest in better sound be call hifi. Midfi low fi shot below waste put down.