There are newer headphone materials and drivers out there, but big companies tend to play it safe. I got some Electrostatz headphones about a week ago and they were a deal at $21 dollars. They are much more neutral in the treble, not sharp or sibilant as low-end dynamic drivers tend to be when they try to be "detailed".
Newer driver technologies could be a boon to consumers if they manage to deliver better sound at a cheaper price. Having great audio quality is no good if few people can buy them. They've had electrostatic and planarmagnetic headphones for years, but they aren't typically mass-marketed.
The other problem is that I don't know if those technologies have matured enough yet (well, at least the Electrostatz). Electrostatz came out years ago and I still hear a lot of mixed opinions on them. Planars too, but to a lesser extent. The thing about both those technologies is that the materials tech isn't an issue nor do I even think they're the cause of the pricing you see for some of it.
Having great sound quality tends to come at a price. Companies don't have cheap planars not only because they're a little tougher to make than dynamics, but because of the time investment to tune it right. Honestly, it's the same situation as all the dynamic driver headphones out there; the more expensive stuff is often the price they are because they're tuned better, made to sound better, and created with a respect for the music that will eventually come out of those headphones. China makes the manufacturing a lot cheaper, sure, but you know why a lot of stuff that's cheap out there get that tag of "you get what you pay for; cheap product = crap sound"? Any yahoo can buy the cheap mass-manufactured base materials, slap it all into enclosures and a headband, and sell it. It'll produce sound and that's about all it can claim to do. The expensive part comes into play when there are people investing time into tuning it to sound good; driver angles, driver materials research, enclosure construction with regards to both durability and acoustic design. All of that costs money. The cheap stuff: I always see things said about them along the lines of "sounds okay, fell apart after 3 weeks" or "sounds like crap, should've expected that from such a cheap product" or "built pretty well for what I paid, but sounds horrible". There's always going to be a compromise, but the cheaper it is, the higher the ratio of compromise. The middle game is squarely where the ratio tends to be the best it can be. It all pretty much works like good ol' college lifestyle triangle:
Except in this case, your three things are Price, Build Quality, and Audio Fidelity