While it is "bling" that inflates the price, I don't think it's unwarranted, or that people that buy are going to be angry that the headphones don't hold their value. Looking at Los Angeles Craigslist and Houston Craigslist, I can buy a 1990+ Rolls Royce for less than $30K. That's like 1/10 of its original value. Mercedes, BMW, Jaguar, etc. all look the same. For someone looking to get luxury, he or she isn't expecting to get a performance return on the investment. They understand that a cheaper car, by the numbers, does the same thing. They just want the added niceties. Is is justified? Well, everyone's different. For me, if I can buy a 3 year old car (when leases run out) for 1/3 of the original sticker, then I'm all for it. Is it worth paying 3 times as much for a headphone, so that it is made out of Ethiopian Leather and whatever semiprecious metal? Well, it produces nigh identical sound, but the necessity of the luxury is up to the end user.
Your reasoning does not sway me. That is ok though. We are talking about a hobby that for the most part is fun.
Don't get me wrong, unless I was rolling in money and it would cost me more to actually take the time to learn the differences between Ultrasone's lineup, and take time testing out the various models, you won't find me buying any Edition headphones. But for some people it's important.
If, and a big IF the Ed. 10 prove out to be a truly exceptional phone and a top performer the price will be fine with me. But if it falls in line with other phones are are good but don't set a benchmark, then the bling, to me, will be all the more irritating. I love quality and finally made items. But everything, from the performance as in a car to phones should match. Top world performance in a phone that some feel looks fantastic would be justified. Time shall tell.