unifutomaki
1000+ Head-Fier
I thought the same way but soon realized that after about 10 to 15 budget 'OK' iem's I could have just saved that money and bought one of the top tier excellent pairs.
And yet, without having tried those budget IEMs, it's hard to know what kind of sound one even likes. Playing with different sound signatures and presentations is part of the hobby after all, and there is not a one-size-fits-all IEM. You'll want different IEMs for different moods, genres, usage contexts, sources, and how much is all that going to cost then?
Budget IEMs (and by budget, I mean < $100) are also improving year on year. My $40 SSP, for instance, is good enough that I have little appetite for splurging on anything higher-tier. My $24 Tiandirenhe is currently putting a big smile on my face. There will be no end to the spending - the question is therefore whether one listens to gear or listens to music.