I mean sure but I think the point is that in recent years/decades, the trend has been toward lower rises, and fans of Spier and classic menswear rightly lament that trend. Rises should generally be higher because, your point about individual nuances notwithstanding, most people will look better in a higher rise that accentuates and divides the body at the natural waist, which is the natural dividing line between top of the body and bottom. Of course there are exceptions--that doesn't undermine the general rule.I think lot of this talk about high-rise vs mid-rise is pointless without talking about body proportions. If you have a relatively short torso you might look fine with a 10 inch rise but comical with rise over 11 inches. On the other hand, if you have a long torso you'll benefit from having higher rise.
This is Michael Phelps who's 6'4" but has only a 30 inch inseam. His extreme proportions that allowed him to be arguably the greatest Olympic athlete of all time also disqualifies him for OTR trousers.
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The closer to the average proportion you are the more likely high-rise and mid-rise becomes a question of taste. For people farther away from the average you don't really have a choice. I personally think the rise of SM and most OTR trousers run a bit short so it's nice to have the high rise option without having to go custom.