Alan Parsons may be correct but he should’ve been saying this fifteen years ago. It’s too late now.

“We’ve now got MP3 as the main format, which is another big mistake. The only real hi-fi is high-resolution audio, which you can find on the internet. There’s various companies offering high-resolution audio – and the stuff that’s available on Blu-ray and DVD. That’s all quality. But MP3 needs to go away very, very quickly.”

Source: Alan Parsons: MP3s need to go away fast – News – Prog