You have to see it in a historic context. Sennheiser was once a manufacturer...
I just want to add that I'm not sympathetic to Sennheiser at all. The price of the hd-800 is still outrageous. But really they are just another example of the rampant corporate greed that saturates the high end audio market.
Also, just a note that AKG manages to build their k701s in Austria and not charge $1400 or implement price controls (remember it's not price fixing, because price fixing is illegal).