The following anecdote doesn’t contradict what you wrote but maybe you’ll find it interesting- I worked for a daughter company of Phillips in the 00s (as an embedded programmer). I was working on mp3 players and set-top boxes but my boss has been with Phillips for decades at the time. He told me how the CD players (the ones you’d connect to speakers at home, not the portable ones) had a variety of brands, from budget to premium. But the only differences were in the external materials & the quality of the disc tray - as those are differences people notice. But everything else (and thus the audio quality) was identical.