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You hit exactly why PS Audio and other companies continue to sell underperforming products for high prices and succeed far better than companies with better products. PS Audio and most "high end" companies are selling a story and prestige, not specifications, not quality. It is the same reason people purchase a Bentley, Rolex, Brioni suits, and Tiffany. They aren't interested in the best quality, they aren't interested in the best performance, they aren't interested in value, they are interested in the story and prestige and will rationalize a multitude of reasons for their purchase rather than admit the truth, i.e. I bought it because I like it, it makes me feel good, it impresses others.
Even the most rational among us suffer from this. Just one example, you go out on a date, you take your nice car if you have more than one. When I go to meet a new client, I take my Porsche or my wife's BMW instead of my 24 year old Toyota Land Cruiser, even thought that is what I drive most of the time and prefer. Why? People equate the quality of their attorney with their office, the suits they wear to court, how much they charge and the vehicle they drive. Very few people are comfortable with an attorney that shows up in a Honda Civic. The fact is there is no correlation between the foregoing reasons people choose an attorney and the actual quality of the attorney. I have litigated against $800 an hour attorneys that are clueless and terrible at their job and $200 an hour attorneys that are among the best in their profession.
Its an interesting one for sure. The simple reason they can charge 8k for a DAC is that they can, obviously. An interesting one would be , could Topping? Maybe a Lexus style sub brand maybe- make it all about the story , the components , the design choices- but ultimately a gussied up D90- and charge , sell and make returns on the deal? Or does it truly take years of marketing, seeding reviewers etc to be able to do that? (Im excluding setting up a secret subsidiary and going for the uppity genius startup angle here as that is cheating- people need to know there is a link to the mass market parent)