I don't get LRS and cheap Ayima AO7 amp

Keep in mind that the high end world is often about chasing the last few percent of performance. If you spend 10 times as much, you don't get 10 times the performance.  This is true whether one is talking about stereos, photography, cars or sports equipment, etc.  And we also can't forget the pride of ownership angle (i.e., snob appeal) that comes from owning fancy and expensive gear. Plus, some stuff is just more fun to look at than other things. 

One more thought regarding the "appearance" angle.  I had a client some years back whose only products were high-end writing pens. Their cheapest pen was $3,000, and their most expensive cost $85,000.  I don't think the pens wrote any better than what you could buy at Office Depot for a fraction of that, but their main use was as jewelry for men.  Think about it, jewelry serves no practical purpose other than appearance, yet people are willing to send thousands, tens of thousands or even millions on it.  

In audio gear, there is always the sound quality issue, but it doesn't stand there by itself.  Just as with jewelry, one can run up the price of a stereo component with what it takes to attain a certain appearance.  And that is without even discussing how the price tag can also be arbitrarily inflated just because of the brand name.