I don't think there's anything new about the upward pricing trend in the high end, or the dubious nature of the claims of superior fidelity that pervade the marketing. Earlier in this thread there was a link to some old Stereophile articles that described a dynamic that was eerily similar to what we have today with personal audio. I think where some people in this thread are expressing frustration is that, up until the last decade (and really the past three or four years), headphones as a category were often seen as an antidote to the typical hifi antics. A decade ago, I frequently saw it written that headphones were the best kept secret in hifi because you could get considerably better sound for a very modest investment (e.g. under $500) than you could from speakers. While this is still true--my recent quest to find a pair of competent monitors under $1,000 came up dry, yet my
HD 600 cost me just $280--there are now numerous headphones which cost multiple thousands of dollars, and we can just expect new flagships to cost at least a thousand. What made headphones special, the fact that even the "best" headphone cost at most around $500, has all but eroded away.
The old guard flagships are all still in production, and if you know what you want and where to look, it's possible to put together a really nice system for not much money at all. In fact, we have far more choices in the overall market now than ever before. But it's nonetheless the case that the high end is shooting ever higher in price in comparison to the rest of the market. Tyll has often said that the midrange price sector, from $500 to $1,000, is underserved. He's absolutely right. New releases here are few and far in between and usually come with obvious flaws (e.g. poor bass extension, rough treble, response weirdness, etc.). It's been a long time since a consensus world beater has emerged, breathless exultations in impressions threads notwithstanding. Theoretically, a hypothetical improved HD 600 should occupy this segment given the ~$300 cost of the original headphone. I'd say a headphone with the same tonal balance but better bass extension would easily be worth $750. But when the HD 600 killer finally comes, it ain't gonna go for $750. If we're lucky, it'll be double that. More likely, it'll be at least $3,000. A headphone like that will never get dumped in the midrange segment because it's too good, and companies know they can get a bunch more money for it.
And that's where the frustration comes in. Whatever we want to attribute this upward pricing trend to, and whether or not it has precedent in the hifi world (see above: it does), is merely a digression. The fact is it's happening, and nobody has to like it. Change is inevitable, but it's a lot less aggravating if we can see a legitimate reason for the change. Here, there simply isn't one. Modern flagships are not, by any credible measure or even the most generous subjective assessment, an order of magnitude better than the old guard headphones. And yet, they all cost that much more.
The typical line that the market determines the price is unsatisfying, if grudgingly accurate. Yes, people are buying at the ever-increasing prices. Yes, there's money to be made, and companies are making it. I don't want them to, and I don't think it's unreasonable that I and others feel this way. It doesn't benefit me one bit if companies can get people to pay thousands for what ten years ago they could only get away with charging hundreds for. What people in this thread are searching for, I think, is some sort of counter to the ever-inflating prices. This counter may be in the form of an objective means of measuring the performance of a given piece of equipment to determine whether or not it's worth a premium over cheaper alternatives. It may be the hope that a mentality emerges which questions manufacturers' claims and places greater importance on value. It may be something else entirely. Whatever it is, the occasional griping I've seen (and have taken part in) in this thread is a perfectly understandable consequence of the frustration we all feel.