In general the relationship is true. But, it is complicated in reality. There are “sound types”… what companies are going for. If you switch from a company that produces the kind of sound you like to a sound you don’t, then that relationship may not sound true to you. Also, there are all sorts of new companies trying to break in… they may produce sound at a higher level of quality for the price… or it might have a sonic flaw you didn’t at first notice (red face, “oh Schiit, what did I do? moment”) But to take advantage of these… it takes even more work and more risk.
With caveats, my rule is that for a 2x or more increase in cost of any component you get a “wow! That sounds a lot better!… with a well chosen and compatible pieces of equipment… because in general the market is efficient… rewarding better sound with price.
All of the major purchases I have made after the first five years in high end audio have successfully supported the 2x rule… so for 45 years. But I do lots of research, and understand, and can read in between the lines of professional reviews. I know the vocabulary and read about my components and all that I hear. This takes lots of experience. But, can be what makes this such a rewarding pursuit, or make you think it is all bunk.
