I would like to add my opinion.
I have watched most of the videos, especially those that offered an actual demo of the speaker in operation. In most, we have no idea what equipment was used to record, how the various values were set, the brand and model of mic, or guitar, or pickup, etc. etc. That combined with the various possibilities of computer speakers and we really have no idea exactly what the S1 might sound like in our home or venue.
In my personal experience so far, the only place the S1 is lacking is the very bottom end that would normally be provided by a bass module or sub of some sort.
In another thread you suggested that the Bose presets are the typical "smiley face" eq curve. ............. I have, on two separate occasions, observed Cliff Hendricksen creating Bose presets and I assure you they are not typical "smiley face" curves.
Cliff used two high end 1/3 octave, 31 band equalizers in series to create analog presets which were then digitized and saved to be utilized by the consumer. Cliff is widely recognized for his critical, musical ear and he very carefully listened to vocals / mics, instruments, etc. while simultaneously matching their natural sound to the output of the L1 speakers.
As all vocals, mics, instruments are not equal, not every one will be a perfect match for a particular preset, however, if the preset is chosen and the variable values are set flat, the user should have a very natural response from the speaker that can then be adjusted to suit personal taste.
I was a bit underwhelmed by the S1 my first hour or two of use. I think that I was missing the wider dispersion of the other L1 systems and perhaps the physical positioning of user to speaker is more critical with the S1. I have since developed a very positive liking for the speaker. I have not used it for gigging at this point, but it is absolutely the best practice system I have ever used. For gigs where space and capacity are appropriate I think it will serve admirably as a small PA.