Not just materials, but time. In one of the CanJam videos (The Headphone Show I think) Dan explains this took over a year to develop. Additionally, this is a small company with only a handful of products. It's not for me, because I can't afford it, but I don't understand why others find it so hard to say that too. If I could afford it I would definitely want to give it a go.How much are the materials in a Picasso? This is not that, but I’m looking to make a point. There is such a thing as intellectual property and it has value, especially when it pertains to products that are not manufactured with much scale. Look at it is this way, if these are that easy to replicate, then we will all be able to buy a Chinese knock off in a year or two for a 1/10th the price.
Lastly, 'justify' is always the wrong word to use. You are the one who justifies the cost by either buying it or not, not the manufacturer.