The best 3-way speaker is better than the best 2-way speaker.

Speakers radiate sound all over, but when the frequency is high relative to the speaker’s diameter, the sound starts to narrow. When an 8” woofer without any waveguide crossover over to 1” tweeter at 2kHz, the sound will be narrow around 1kHz but widen back up when the tweeter kicks in.

So a 3-way allows for more consistent/linear performance of radiation, it also should lower distortion.

But if you are talking a $600 3-way, that’s more drivers and more crossover parts to fit into that budget, and some enclosure size restrictions as well, so no guarantee it’ll be better than a $600 2-way.

This is where measurements come in handy.

I haven’t watched that clip, but here’s one I watched before and was well explained:
https://youtu.be/ihOMKQ3i2OM

Topping/SMSL do better for cheaper.

The only corners ChiFi haven’t cornered are high powered speaker amps (Hypex/Purifi for those) and over-ear headphones.

You pay a premium for being a Made in USA company, you’ll never get the most bang for the buck, but their current gear isn’t bad.