Thats silly... 16 bit audio really doesn't have enough dynamic range for many uses now. Listen to a bit of classical music with very loud and very quiet bits and you'll hear quantization hiss in the quiet bits.
16 bits allows a dynamic range of 96dB while sounds you might come across in everyday life can peak over 130dB briefly.
While the actual analog sounds may indeed have a higher signal to noise ratio than 96db, most ADCs haven't, i.e. for most digital recordings 16bit should be more than enough.
Since audio is usually sampled around 44 kHz, which is slow by signal processing standards, most ADCs can exceed 16 bits by supersampling and averaging the results.
