> Any more is just placebo.
This is a very simplistic view of things, on many fronts, but I'll try to be as concise as possible.
In a classical wind/bow orchestra, there are more harmonics at play than the 20Hz-20KHz band, and these harmonics affects our perception of the sound and soundstage. However, recreation of this is very hard, because you need both recording and playback chains which can handle these harmonics as well.
To faithfully reproduce such orchestra, you need a speaker for every instrument, ideally with the exact air movement capacity of the instrument you're mirroring. This is not practical. Instead we mic all of them, mix all of them, and add room echo to the mix to capture harmonics as best as we can.
However, this can't replicate some instruments anywhere around its real sound.
Examples are Turkish qanun [0] and Chinese guzheng [1]. These instruments sound bland, flat and shallow on all recordings, but listening them live, directly with your ears is a goose pimlples inducing experience. Higher end stringed instruments have a similar vibe to them.
So, a 16bit/44KHz signal at 20Hz-20KHz band cannot reproduce these instruments with any faith.
Standard CDs, high quality vinyls, lossless files carry a lot of information, but not all information we can process with our ears. Like how even the best digital cameras cannot reproduce the colors we can see with our eyes.
Reaching these resolution levels are neither cheap, nor practical, hence we use what's practical.
As a result, your master-pressed-vinyl possibly can't carry this information either, because the recording chain was not able to capture that amount of information, even if you went all the way to install your own power pole to feed clean power to your impossibly expensive audio equipment with all that capacity to reproduce that sound.
IOW, you can't extract the sound which is not there to begin with.
Your friendly ex-orchestra player reported from its AKAI-AM2850.
[0]: https://en.wikipedia.org/wiki/Qanun_(instrument)
[1]: https://en.wikipedia.org/wiki/Guzheng