It's a mistake IMHO to think, the retail price (for any technical item) must be directly related to the cost of R&D / production. While it has to pay for these, and the taxes, there are other factors, such as paying your employees, financing the development of future products etc. And, last but not least, using the potential of the market. There's nothing wrong or "immoral" about it. A headphone like this is not a drug people need to survive, it's a luxury item for hobbyists, not less, not more. Why sell it under its market value?