Well, I've bought them for $220 -- version 2.0 whereas now they are at 3.0, but still.
And I have studio monitor headphones too, but still prefer those for casual listening.
>headphones with pretty good sound quality start at $50 and get diminishing returns around $150...
You'd be surprised.
Of course the ones we talk about also have BT wireless operation, noise cancelling and even touch sensitive case (to control volume/forward/stop etc) -- to justify the higher asking price, but even without those things, a good $250 or $300 headphone will be much better than a good $150 one, pretty similarly to a $50 vs $150.
If you look for diminishing returns, that would start around the $400-500 mark.