Tomlinson Holman, who knows a thing or two about psychoacoustics, disagrees with the OP.
Actually Holman agrees with the OP that 5.1 is not the ideal format for music. I found this comment in a 1997 interview with Holman:
Bill Whittington: "Could you talk about your work with the Motorola Corporation and multichannel audio for music on DVD? Will this format include images as well as music?"
Tomlinson Holman: "Well, it might have some images. There are ways to put still images in there, but it is not for full-motion video. If you went to full-motion video for music videos, you'd be on DVD video standard. The question is what constitutes a high quality audio standard. There is a headlong rush toward higher sample rates and longer word lengths—these are givens—but what is the utility of more channels? I feel responsible in a way for 5.1, but I feel it's inadequate to fully represent the dimensionality of music fields. It works fine with motion pictures, but it was done under limitations. Let's take away limitations. They're taking away sampling rates, so let's talk about taking away limitations on the number of channels."
source: page 116 of the pdf... http://cinema.usc.edu/assets/099/15962.pdf