To most folks, yes. Mostly because:

I. Most folks don't have an expansive set up to get the best out of the sound quality.

II. Most people don't have the hearing to tell the difference (either physical hearing limitations, or they don't have a trained ear).

If you are absolutely passionate about music and have nice headphones and a DAC/AMP -- you can absolutely tell the difference between 320 and Lossless.

So tidal is a godsend to audiophiles (well maybe that is going too far). But it's nice. For everyone else? Fuck them. Lol

I don't think it's fair for people to say placebo. It's really annoying tbh. I hear people use the same argument about the placebo effect with expensive headphones. Because headphones aren't always about extracting the most data - and that's what you are paying for. Most people pay for "sound signature". Meaning, each headphone has its own sound signature (due to the design, and the material used to construct the headphone which impacts sound). There is a big difference to how sound bounced off wood vs metal or plastic for instance (wood tends to give a warmer sound).

In that way, there is a huge variety of sound signatures. Brands are knowing for specific sounds. Models each have their own sound. And so you pay money for headphones, to chase the perfect sound signature that is pleasing to you, and makes music that much more enjoyable. And that is certainly not placebo. Even non audiophiles could try two different headphones and describe the difference in sound.

While I don't expect everyone to have the time or money to invest in headphones, I do think anyone that loves music, owes it to them self to figure out what sound signature they prefer, because it truly makes music much more enjoyable!