I also think TRN is directly following KZ's formula (which they did for years, and still are to a degree). For years and years, KZ sold IEMs at super cheap prices - $4, $9, $13, etc. Obviously only making a few dollars at most. But they were able to flood the market and get their name well established. Then, years later, they were able to ramp up to $40, $50, $60, and even $100 IEMs.
Look at how far TRN has come, from the $10ish V10. If they had come right out of the gate with a $50-$60 IEM, I don't think anyone would have bought any because no one had ever even heard of them.
And no, I'm not saying TRN's or KZ's is some top of the line stuff now. It's still really inexpensive budget stuff. But even within the budget segment of <$50, there are multiple levels of 'quality' manufacturers compete in.