If they were the only headphones that worked with iPhones, then yeah, it'd be a piss take. Remember, you can buy far more expensive headphones from Sony or Sennheiser if you really wanted to.
As it is, their launch price is less than that of the first Walkman, the first iPod or the first iPhone - other non essential items aimed at people with disposable income. There is no reason for Apple to sell these for less at this time because, just before Christmas, demand would outstrip supply. In addition, it is important for Apple to sell these for more than their wireless rivals at launch, since they want to reinforce their claims that these headphones do more then rival's offerings.
The point is, these are the factors that determine the retail price, not the BOM (which itself is a function of tooling against sold units)
If you want to pay close to the BOM, there are some fantastic-sounding headphones avalaible - just search forums for 'Chi Fi'.
Personally, I did find myself looking at older Sony MX3s for around £150 earlier in the year, but I couldn't justify the cost (not like I was travelling by train or plane much!). Instead I bought a pack of 3.5mm trrrs jacks and dug out the soldering iron for my collection of damaged earbuds.
Biting the hand that feeds IT
