Like with cars. More expensive is not *always* better, but usually it is. Therefor it's an indication, i.e. a rule of thumb, but not a decisive, single factor.
Well studies have shown there's actually very little if any correlation between price and sound quality of headphones, so any correlation in speakers may be weaker then you think. See here: https://www.audioholics.com/loudspeaker-design/price-sound-quality-headphones