Every time I see someone here dismiss this success as status symbol-oriented marketing, I just shake my head at how much that signals a deep misunderstanding of how the world works or what most of the human race wants in a product. Nobody wants the Sony WF-1000XM5 earbuds because Sony doesn't even give a shit enough to give them a name people can remember. Nobody wants Bose earbuds because nobody wants to open a buggy spyware-laden app to turn on/off noise cancelling. These products are destined to fail because they make simple things complicated, untrustworthy, bothersome.
People are whole-experience buyers, not single-feature buyers, and the experience nearly every person on earth wants is the magical 'I put it in and it works' experience. What people want is all the upside of the magic of technology and none of the cognitive overhead associated with it. The specific choices that make up a product offering - aka the product marketing - reflect the inherent desire of the customer. Any luxury / status symbol aspects come AFTER that.
Like what? In the true wireless camp, the Sony's are much less comfortable (and more expensive), the Bose are not as good (and more expensive)...
There's cheaper options, sure, but you're sacrificing build, ANC, battery life, etc.