Hi Harminder,
Welcome!
I FULLY agree with your statement.... Sonically, the room is the worst component in most Hi Fi systems.
Initially, money is best spent improving room acoustics, than any other Hi Fi equipment upgrade.
Sadly, Room acoustics are as much an art as science. They require a lot prior experience, as each room is unique.
Also treating rooms for audiophiles is somewhat different than catering to studios....
Serious Audiophiles do focus on Image Depth & Image height, parameters that often ignored in the studio, since studio consoles can only pan laterally in the sound stage.
Have you treated your listening Room ?
Would be Awesome if you started a thread her, with a picture of your treated room, explaining the choice & importance of the sound treatment used.
Cheers! & Welcome again