Call me an audiophile...but here's what gets me with an article like that. Sure, the guy spends too much money on something that gives him a degree more excitement and enjoyment when he could of used the same money to buy something else. Sound familiar....
How about the guy who buys the Ferrari instead of the Subaru WRX? What you say? No comparison? I think it's very similiar to the arguement in that article. For the price of the Ferrari, you could buy a WRX, plus a house, plus an addition to the house to house your new car in style. Meanwhile, the WRX will provide you with the same amount of speed and acceleration you can get out of the Ferrari on normal roads. Under the right conditions, you could technically even race the WRX better than the Ferrari. Ok, I think you see where I'm going...
The quest for better sound from high-end audio equipment is the quest for more enjoyment. What level works for some is just not the same for others. If you have the time and the money, aren't you going to seek out the best possible way to find this enjoyment? Sure, there is plenty of gear that will give you that level of enjoyment for less money, i.e. Outlaw, but if you have the funds, why not seek out more? Personally, I would love to hear that system featuring tubes and horns and feel that little bit of tingles the reporter in the article feels.
The only time audio becomes a bad habit is when you don't stay within your budget. Overspending will get you into trouble no matter what the hobby. There are levels of enjoyment out there for almost every budget. If you can stay within your limits and find your optimum level of enjoyment, why not?
Just this budget audiophile's .02 cents on that...