Hi Simon,
You see that's the thing, people put varying importance on it. I would guess you don't consider it all that important in your life.
Importance of music will vary from person to person. To some it is very important, others not so. But that has little bearing on whether people buy expensive hifis or not.
Some people who have hardly any money, own top notch systems simply because it is very important to them to have good sounding music in their life.
You don't need an top notch system to get good sound and enjoyment. Most people I know, who are heavily into music, don't have top notch (&) or expensive systems.
Certainly for me, I consider good music and hi-fi a near-necessity in my life. I need music. Others may say they need a car. I know which I'd choose.
To be honest, it is not a necessity to me at all to own a expensive hifi. I have a house full of kit because I can own a house full of kit. I have had the income to do it and I choose so.
I have enjoyed music on the radio, at gigs, at discos, at clubs, at partys, in the street, on ghetto blasters, in cars, on radiograms, on walkmans, at concerts, at shows, in workingmens clubs, in youth clubs and many other places as well as on hifi systems. I don't really need an hifi to do it. This is not to say better/expensive doesn't make music sound better, it's just to say it's not nessesary to enjoy music.
If push comes to the shove, I could survive on lesser equipment. I can get the joy of music from many things. I would be very pissed off if my record collection disappeared though!
A car is more of a necessity due to poor and expensive public transport. Also I work out of town in my day job, so no car would be a major pain.
SCIDB