Even 128kit from a modern encoder is harder to pick out than it was 25 years ago. Most of the self-appointed experts proclaiming how woefully inadequate MP3 is are basing their assessment on outdated experience from the distant past.
You can literally point to artifacts in a spectrogram which exist within the range of human hearing with many lossy codecs. It doesn't even have to be subjective.
Sure - these codecs lose information. The clue is in the name!
The question is can you hear those differences, to which the answer is basically no, for a modern codec at high enough bitrate. "enough" is 128kbit or more in blind listening tests.
The answer is not "basically no", and the qualifier of the initial argument was specifically 320kbps mp3.
No one here is arguing that modern, high-bitrate codecs aren't much better at producing imperceptible artifacts. But 128kbps is absolutely not enough in blind listening tests, 128kpbs typically produces a ton of perceptible artifacts. You're just making that up.
