I suppose there are two opposite ways of looking at this.

On the one hand you can see the recording in itself as the significant version. Once engineered, the aim of live performances is to achieve as perfect a recreation of t6hgis as possible. This is the music industries central assumotion.

On the other hand the live performance is the significant version. The aim of recording is to produce as good a copy of the best available live performance. This is more the folk way.