What does “LoFi” mean?

What is “Lo-Fi Music”? What are the expressive goals of making stuff sound bad? Why are there so many “Lo-Fi beats to study to” videos on this site? Why do they all have 1990’s anime images and video?

In this video I talk about some of the possibilities of how “LoFi” music responds to the hyperreality and commercialism of “HiFi” (literally “high-fidelity”), and what our contemporary interest in LoFi might mean to some artists.