Ego? yes, for some. Most of my audio friends who can afford a speaker over 30k let's say, do it because they fall in love with the sound. They can afford them without even noticing the debit in their accounts. Audiophiles are of two groups usually. One group collects gear.....some collect as much as they can and they keep sites like this going. Others love their gear, but love the music more. That's one of the few statements any of can make in audio that isn't really subjective. Just ask any dealer who's been around for over 30 years and they'll say the same thing.
As for 'what's in the box', we have discussed that at length in this thread. Too many avenues to discuss about that from scale of economy to R&D to cabinet build/finish to quality of the components in there to most importantly drivers and their implementation.
Derrick, I do disagree with you about being able to listen at a show and then make any real subjective thoughts. Show conditions usually stink at best. The rooms alone are usually terrible, then you have so many in a room. Any speaker will only sound it's best in the sweet spot and it's nearly impossible to sit in that sweet spot. I don't think many will argue with that, but many who love the shows still will say I'm wrong. To each their own.
Many of us have been fortunate to go listen at friends houses as well as top dealers, to many of the speakers in the market over 50k up to 250k. The other major part of the equation is the system as a whole. Some speakers must have specific amps to sound their best as well as cable etc... I loved a Tidal system I listened to that probably cost north of 400k when it was all said and done. Man did it sound awesome. It really did, but it didn't sound better to me than a system I love that costs less than half of that. Even half is still 200k. For some they laugh at this thread or get upset that folks even question why they'd pay so much for audio. Why do they own an Bugatti or other esoteric auto? Why does their house cost so much? Why do they......its' because they can and because they can, it allows smaller companies to make a nice profit and filter down the tech to speakers in the lower price ranges that most of us play in. I thank the manufacturers and the fellow audiophiles for helping us all out. In the end, we are all winners. How cool is that?