In the late ‘50’s, true Hi-Fi (DIN 45500) was replaced by stereophonics, and high end systems produced superior analog sound, far better than today’s standard of 128bps digital.
While this was a difference that only really mattered to audiophiles, and only on high end systems, not the typical run of the mill record player, if you had the hearing for it, the difference was enormous.
Even today, audiophiles will still pay premium prices for limited edition vinyl recordings.
I have hearing damage from enjoying high quality stereophonic systems in my yuteth. The high frequencies are now all heavily muted. 256k is plenty fine.