I don't understand the immediate and visceral hostility to this move by Hifiman. The MDR-R10 was/is "legendary," and yet has not been made for decades. As pointed out by a previous poster, the price of the Sony in today's dollars would be around $5200. We all know there are people who would pay this, and yet Sony has decided to relegate the R10 to the annals of history.
If Sony had a problem with what Hifiman is doing, you can bet their lawyers would be all over this move. Apparently, Sony is ok with it.
This said, the important determinant of whether the Hifiman headphones are genius or folly is how good they turn out to be. The price of the dynamic version is well below what the Sony would be today. The planars' price will be about what the Sonys would cost today.
If these turn out to be brilliant headphones, especially the dynamic at the price point announced, then I will applaud Hifiman and even consider buying the R10s. If they turn out to be hype, i.e., average headphones that just ape the appearance of the original MDR-R10, then phooey on Dr. Fang.
New products 'pay homage' to old ones all the time, whether it be with cars, cameras, watches, whatever. Ultimately, the important thing is performance, which has to transcend the marketing hype.