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Just chiming in with an alternative perspective on headphones.
I personally disagree that anything higher than $200 is a waste. Diminishing returns is subjective relative to one’s enjoyment, but I think I’ve landed on a few headphones around ~$300ish I am very happy with.
I own headphones significantly more expensive than that, but I wouldn’t call them a waste of money since they bring me tremendous joy and they are better at reproducing sound to my preferences than my cheaper pairs.
But for me, if I had to somehow objectively quantify my joy-per-dollar between some of the really good ~$300 pairs and my top of the line pairs, it wouldn’t be so significant that my quality of life would be dramatically altered.