Inflation is only part of the story, a bigger part of it is a shrinking, aging market. Stoddard in particular has eloquently shared his experience through the exact same transitional era for 2 channel decades back, and they focused Schiit on headphones to try and 'protect' the hobby from the same sort of luxury-creep that took hold there. Keeping good budget gear a core part of your product focus is necessary to get young customers, and those are your future business.
Personally, I think headphones are further down that path than IEMs. There's definitely more competitive pressure from other geographic markets at the top end. Part of it is enabled by an entrenched, measurement based expertise that is prevalent in the community (the reality is it's much easier to get useful IEM measurements on a cheap 711 clone than for headphones) that helps keep the value prospect grounded.
In any case, I really don't see Westone or Lucid as particularly egregious for pricing over time. The Mach series is not much more expensive than the W series: I see $1499 USD for the final W80 model in 2018 vs $1599 MSRP for the Mach80 in 2022. Not exactly a huge increase, particularly given Westones have always seemed to discount relatively quickly.
If we're speculating on the success of the products, I'd be more inclined to blame customer confusion. Frankly, the product structure that Lucid purchased from Westone is a dinosaur. It was made from a time that it made sense to structure your products by driver count. More drivers is better is more money, right? Well that used to be the pervasive wisdom lol.
The result is just too many variants, launching 8 IEMs at once is
crazy, and the resulting confusion in how they are marketed is understandable. But at the end of the day a confused customer is probably not going to be a customer at all, we don't all have the benefits of chatting with Lucid folks directly to understand where each model excels...
TLDR: Holy cow look at those prices on Mach series! Go buy a Mach 50/60 (balanced), 70 (bass) or 80 (detail) before the sale ends