Part of the problem here is the extent to which we're looking at one product in isolation. Go to any ordinary person, tell them what you paid for your headphone rig(s) and watch the look of bemusement on their face when you tell them that it was great value for money. VfM doesn't really come into it at the prices that we pay, and assessing any audiophile product in terms of the materials cost is crazy, because whether the manufacturer set a 1000% markup or a 10000% markup really doesn't make much difference in practical terms: there aren't any headphone amp manufacturers to my knowledge who are selling at prices anywhere close to the cost of materials!
As several people have said already, it comes down to whether this sound (and, let's be honest, this look) is worth that money to you. If Grado are ripping off the Grado fans ... they're probably in excellent company!
As several people have said already, it comes down to whether this sound (and, let's be honest, this look) is worth that money to you. If Grado are ripping off the Grado fans ... they're probably in excellent company!