In the IEM space I think Moondrop totally showed how good things get with a measurement-based design approach. Everyone else is still playing catch-up IMO.It wasn't long ago at all that IEMs approximating one of the target curves were rare as hen's teeth. And expensive.
Moondrop, more than any other manufacturer, helped to change that situation. I was frankly surprised that their first couple headphone offerings were not similarly disruptive to the industry.
If these FR graphs are legit, though, Moondrop has figured out how to hit headphone targets as well as anybody else in the industry. At an affordable price. Look out, world. There go your profit margins.
In the headphone space it's more saturated, with the likes of Hifiman, which have a lower priced entry level. It's early days for Moondrops headphones line-up and we might be surprised with some budget bangers down the line, that will help put them on the map.