Sound recording quality has only decreased in general.
Most audio comes at the same sample rate and bit-depth as CD or DAT, while there is no excuse whatsoever why this should not be increased to 192kHz/24bit or higher, and is stored with lossy compression.
What is generally available now in lossless high quality is movies (DTS-MA, and Dolby HD) but hardly any music.
On the other side, the loudness war has further taken quite a few bits out of the available dynamic range of 96 dB (CD quality s/n), decreasing perceived quality even more.
The other point completely missed is the fact the modern receivers have to drive 5,7 or 9 channels in standard AV receivers, compared to the 2 in the old equipment.
(odd point in the article is that it complains about buying specs, but does a simple Wattage comparison against old receivers to make his point they are better..)
So don't just blame cheap equipment, blame the listeners who don't seem to care.
Then again, if nobody cares, is it really a problem ?