Lets talk business. The original Orpheus was launched in early 90s (1994?), I don't recall the original price but lets take the number your suggested as-is.
The $20,000 price tag was a 20 years historical figure, I am sure if you factor in inflation, or present value, or GDP per capita, or average household income, exotic car price, ....., you can definitely find ONE formula to justify the $500,000 price tag in 2015 with reference to $20,000 in 1994. If Senn is CRAZY enough to ask for $20,000 in 1991, why won't they ask for $50,000 in 2015?
On the other hand, if you are the head of Senn Sale/Marketing, and you noticed that a 20 years old Orpheus can ask for $35,000, what will be the figure you suggest to senior management on the forth coming Orpheus 2?
The problem is, the original Orpheus was a limited edition and only 300 were made, consider the HeadFi market has expanded expotentially since 1994, will Senn make this a limited edition again and what will be the number they have in mind. If they are goind to make 300 units only, like what they did with the original Orpheus, I am sure this will be a sold out within 12 months, there is a reason that the news/figures leaked from Mainland China as that is a big rising market for exotic toys like this.