If by "not far off", you mean "over $200 more". For consumer devices: The Sony 1000XM4s are $270. Bose QC35 IIs are $265. You'd have to go up to pro-grade gear, such as the M&Ds or Beyerdynamic Amirons, to match this price. Maybe Apple headphones are pro grade, but the AirPods are not, so I don't think they're going for that market segment.
They're right there in 'wanky headphones from a name brand'. Amirions are more expensive and have no ANC. The gamer Audezes (no ANC, the processing stuff is only wired) are $500. Lots of other stuff you can find in that price range from B&O, etc.
Master and Dynamics are not "pro gear", and while Beyerdynamic traditionally is, they have dipped their toes in the consumer space for a good awhile. This is right up there in that space IMO.
