Here, speakers have become a luxury item.
I agree that high end speaker are surely premium products simply by the prices asked for them, but I do not see a connection with luxury in the sense of having no purpose like enjoying music on them.
Speakers are about science; they should accurately reproduce sound. Many people would find it hard to understand what's so special about speakers that cost tens of thousands of dollars.
I agree to the general statement about science. But in practice, there are lots of different opinions what ´accurately reproducing´ exactly means, there are different rooms, different setups, different music genres, different listeners. A speaker is not a pocket calculator getting the calculation either wrong or right. It is not that simple. A complicated room in terms of room acoustics, listener´s expectation regarding higher achievable SPL or the desire to reproduce acoustic recordings with natural imaging/ambience accurately, might require a much better performance of the speaker driving development costs up.
Nothing wrong in that, even if it comes at a premium price, and even if people who are anyways investing more than 10 Grand, are willing to spend a few bucks more on a nice finish and rigid cabinet.
Do expensive speakers use titanium alloy?
Some are milled from solid aluminium. Is this justifying a price north of 100 Grand in your eyes?
A car has to be superior in all aspects to justify its high price.
I had exactly the opposite impression after a recent ride with a $200,000 luxury sportscar. Except for really impressive acceleration, I would say everything else that defines quality in my understanding, was inferior to a premium sub-$100k mass-market car, from fake leather, wind noise to nervous, stiff suspension.
People buy things like cars out of fascination for a brand or certain aspects. It is not a rational decision in most of cases. So why should this be different with speakers?
They have no value as luxury items.
Sounds slightly like a contradiction to your previous statement about luxury. But I agree that high end audio has no value as a luxury good to show off. People primarily buy it for their personal enjoyment. And they usually do extended listening sessions prior to buying expensive equipment, but seemingly buy stuff which does not get lots of blessing from self-proclaimed objectivistic reviewers or here on ASR.
To be honest, I do not think the premium-price-is-fraud discussion and how poor some expensive speakers perform, is anyhow useful. People who like those, would buy them regardless, because they do not trust measurements, ratings or objectivistic reviews, but their ears at a listening test.
The only ones who are suffering from this discussion as they are labelled ´fraud´, potentially lose customer´s trust, are the manufacturers of expensive equipment relying fully on science, measurements and objectivistic approach. Why should anyone buy a Kii, D&D, MEG or expensive Genelec, if you can have the same response and rating for a fraction of the price? I find this pretty sad, because these are the companies who really invest into R&D, and I find it justified to pay a premium just for their innovative approach and their attempt to solve existing problems like with room acoustics.