I completely agree with what you say about the HE400SE. I laid out 6 of the best of my 20+ headphones to compare the other day (for a bit of fun) and to my mind the least impressive of the lot were my K712 Pro, which were easily bettered by the HE400SE (£69 new on Amazon recently) and unsurprisingly my Hifiman Edition XS (£350 when new 2 years ago and my overall favourite headphone, now I've changed the itchy pads), but that's not a fair comparison. I was comparing some of my open-back headphones BTW.
I have tried various EQ settings I have found on the net (and in the excellent Wavelet app) with my K712 but nothing really seems to elevate them to a level that justifies the price.
I paid £181 new for the K712 about 5 years ago and at the time I did appreciate their spacial qualities, hence the purchase, but I have that and more now with even the HE400SE, without EQ! The K712 Pro currently sell for around £230 on Amazon UK. Too much!
The K712 Pro are easily bettered by my K371 too, but that is of course closed-back. They look nice on the shelf with all my others though, and I occasionally put them on for a few hours for old time's sake. I don't think they're a bad headphone by any means, just bettered by others that are cheaper.