I wouldn't doubt it. I got it for $30 at Goodwill
. It works fine for my purposes, and there are plenty of headphones I've used through it that don't sound dry and lifeless. Furthermore, I've tested headphones through both the Denon and the Fiio E9 I used to own, and I couldn't discern any appreciable sound quality differences (except with the noticeable hiss that's to be expected from the headphone out on a receiver). Maybe my ears aren't that good, but I'm satisfied with it. And my Boston HD5s sound gooooood from it (although that could just be the speakers themselves).