For most people, it’s a balance between dollars and their perceived value. As Hamlet says, “ah that’s the rub”
First value WHEN? Use cases!!! If this is FOR THE GYM, then there will be clear limits. If it’s MOBILE, there are others. If it’s to SHUT OUT THE WORLD another.
Assuming no special use cases, then as I’ve pointed out before, the 80/20 and 95/5 rules apply. So if you think that a $500 headphone is super awesome, $100 will get you 80% of the way there.
This old thread is instructive on how to think about things - and is strongly reccomended when giving advice to someone who is not yet an audiophile but dosn’t have tin ears .
P.S. 20% of the guys got to 80% of the girls in high school.