I've been listening to this, and I'm going to be honest when I say I don't fully understand the conversation here about waveform and transcoding -- but with that said, I did get a very strong sense that there was a "flatness" to the sound. Like ... all songs, and all voices within the songs (each instrument), they're all normalized and sound like they're all the same volume. That volume being ... loud. It's all just there, in your face.
But looking at the waveform image that Ef posted, it looks like there is variation in dynamics, just ... within the track, it feels like everything is packed together. Like, I never hear a soft flute and a loud drum at the same time, or vice versa. If that makes sense.
That might be an entirely separate issue from transcoding or the 21kHz cut-off. Just thought I'd put my listening-ear impression out there and see if it has anything to do with what you're discussing.
... does it? ^_^
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