Yes. It works best when you start with your "top of the line", wait for results, then make that "sound" more affordable. This is what Joe Grado did. He had his $695 HP 1000 to lead off, then eventually we got the $69 SR60 which gave you a lot of the HP sound.
But now we are seeing quicker "upgrades" to already expensive (read: unaffordale to most) flagship models, and I can't help but think they are preying upon the gullibility and vulnerability (not to mention wallets) of headphone fanatics (not that there's anything wrong with that, it's part of our capitalistic society). Add to that the fact that the manufacturing of these new models somehow can never meet the initial "demand", so folks cannot go down to their local hi-fi shop and demo them. This scarcity makes them even more "desirable" which leads to greater curiosity and greater knee-jerk pre-orders and purchases. We end up spending another $1600 for something that sounds different from our $500 headphones just because it now exists. I get even more suspicious when it is always the same 4 or 5 people who somehow get to have them right off the bat and inevitable rave about them, then drop them like a hot potato when the "next big thing" arrives. Surely happiness and contentment must arrive at some point, no?