Do people still buy HiFi?

I'm curious, in this digital age where streaming services and earbuds are all the rage, do people still invest in high-fidelity audio equipment? Is there still a market for HiFi systems, or has the demand shifted towards more portable and convenient audio solutions? I'm interested to know if there's a niche audience that values the superior sound quality and immersive listening experience that HiFi systems offer, or if this once-popular trend has faded into obscurity.