You may well be right when it comes to acoustic music, either large or small scale.

On the other hand, I went to see Wilko Johnson at the Rescue Rooms last week.  The bassist was Norman Watroy (used to play bass for the Blockheads).  I was actually thinking that yes maybe we are deluded.  It was absolutely fantastic, but couldn't help thinking there's no way you could reproduce THIS in the home ... and you would probably be insane to want to.

Proper, full on, realistic rock bass in the home?  I'm not sure its possible.