Exactly...
And it can beat on many acoustic factors even speakers systems of superior cost , especially those which are not in a dedicated acoustic room...
They dont compare , ....but with a BACCH filter system they may became IDENTICAL...
Anyway my Headphone system will cost me 1,600 dollars, 100, headphone, 200 dac, 300 amplifier, 1000 pre-amp or headphone amplifier and they will beat many if not most very costly speakers system in a living room...
One true thing about phones is for $2000-3000 you can get some that are comparable to >$20,000 speakers, so they are an audio bargain in that sense. I am happy with my Sennheisers for now, and will hold off upgrading them and put the money elsewhere in my system. FWIW.