Consider this: are your finances so dire or tight that all of it has to be spent on absolute necessities? Do you budget responsibly? How much value are you getting from your purchase? Do you consider those headphones a purchase that is a fitting investment for what you want to get out of them? Lastly: how much enjoyment are you getting out of those headphones? No one can tell you those things but you, and really, it's no one's business but your own.
There are many people here who would gladly spend A LOT to obtain their desired level of sonic bliss, and that's another thing: sonic bliss. Outside of the audiophile and music lover/enthusiast community, people rarely care about "sonic bliss"; they would rather spend on fancy cars, big watches, slick clothes, etc. and "sonic bliss" is considered a waste of money. What is "sonic bliss"? How do you even begin to describe something that ephemeral to people who don't understand? You can't. That's the thing. You can place those headphones on the person's head and play a track from your library that would usually bring a smile to your face and make your body dance, and really just hope that they have the same reaction. Chances are they won't. But if they do, then you just might be able to convince them.
Audiophile/music enthusiast/somebody who just likes good sound/whatever you want to call yourself is, like many things, a hobby to many people, and like many hobbies it can turn into a really seriously hobby that some would even consider a lifestyle. However, unlike many other hobbies, it is not an active hobby, by that I mean that it can only be enjoyed passively by means of consumption. As opposed to that, an active hobby requires conscious input from a person such as playing a musical instrument, which can be obtained as a skill and with determination, serious input, etc. can be developed into something much more. Something similar to being an audiophile would be a foodie. A foodie will spend their hard earned cash to find food that will excite their taste buds; a foodie will drive 12 hours cross country just to find that restaurant in the middle of nowhere that serves bone marrow with a special red wine emulsified butter sauce that another foodie friend told them about. Many people would call that foodie a fool, because for them food is just something that you put in your mouth, digest, and uhh expel from your body to avoid feeling hungry. Many more will feel the same or worse about audiophiles.
I come from a family of artists and I'm extremely familiar with how people view and feel about such matters. Why would someone spend even a few hundred dollars on a piece of canvas stretched over a wooden frame with some paint mixed with oil applied onto it, let alone art pieces that fetch up to millions in pricing? Many people would consider it a waste. That is because, subjectively, they don't understand, and they just can't appreciate. You'd have a better chance of making them see ultraviolet rays than see why an Edward Munch piece would cost upwards of hundreds of thousands of dollars. Same thing with music, and really, headphones and other audio gear are just tools to allow a person to relive music at their own leisure.
Are such audio gear luxury items? Well, that depends. Some items could be considered luxury items more easily than others; a gold plated amp with pearl and sapphire inlay on the top panel would definitely be considered a luxury item for probably almost everyone, but an amp that makes your music sounds significantly better to your ears...well that's up to you to judge the return value of what you've paid for, and if you would care at all to spend that money for such things.
But in the end it all depends on you. Do YOU feel that the $200 is spent on something that has returns tangible for YOU?
And yes, I've been asked many times What am I doing for spending money on headphones, and I told them I was being very happy enjoying my music with those headphones. I also asked them in return, when was the last time any of their purchases made them smile/happy on an almost daily basis?
Side note: this isn't a post to help enable your spending nor to guilt trip you on it, just something to help give you a perspective on such things with a pinch of personal opinion, of course.