I have used Quad electrostatics for about 40 years, first the 63s then the bigger 2905s. They have a built-in volume limit, in that at signal voltages over about 40-Volts they deliberately compress the signal, ultimately presenting as a short-circuit at about 57-Volts.
I have found that newer recordings on SACD and Blu-ray tend to have ever higher peak outputs, as measured by the point at which my Krell power amp trips because the Quads have clamped!
Almost by accident, I recently bought a pair of KEF Reference 1 speakers which also try to emulate a point source of sound. They can play far louder than the Quads!
My own hypothesis is that many people are looking for a ’smooth’ or ’warm’ sound so are attracted to the pleasant harmonic distortions of some valve equipment and seek an ’analogue’ resonant sound from digital. I am looking for a realistic experience judged against live (non-amplified) music. Much of the orchestral music I listen to really is discordant and edgy, as in his time was Beethoven. (There is apparently no evidence his deafness was caused by playing too loud)

