From my experience, because of 2 (related) factors:
- ordinality & 2nd order effects: some improvements only shine once others are in place. E.g. the impact from the Townshend podia in my room increased notably after I had more room treatment.
- discrete, step function rather than continuous increases. Once a combination of upgrades (power, cables, ...) jointly lowered the noise floor below a certain threshold, suddenly instrument separation drastically improved.
Perhaps more experienced audiophiles can factor these interactions into their upgrade path and disambiguate their individual vs cumulative/interactive effect, but for me there were clear moments where the effect of 'the whole' was greater than that of the sum of its parts. I am very much still in the empirical rather than the rationalist phase of system optimization.

