There has always been stratosphere pricing in this industry, but as the baby boomers hit retirement they have done very well with the ponzi economy and now are splashing out on their hobbies and passions.
Not just audio, see classic cars from 60/70's as an example.
So there is now a large and increasing amount of audiophile brands doing low volume catering exclusively to this class.
But the wall is coming. It will start with the used market which is already struggling. By the 2040's all this ultra hi end gear will be flogged of for next to nothing in estate sales, like vintage wood furniture is now.