I think your point about "listener fatigue" is important, because that's a big part of this. It's not just about the way a squashed track won't sound as good or as interesting (though it won't, of course).

And yeah, that's a famously "loud" genre. What drives me insane is going to, say, a mostly acoustic live show and having the person behind the desk mix it as if it's Drum & Bass. I never ever go to a show without earplugs, because you just never know.