Here's what you get at each price tier:
Under $30
Basic Bluetooth, no ANC, acceptable sound. Good for gym beaters and kids. Example: JLab Go Air Sport+ ($30).
$30-$60
Entry-level ANC, hi-res codec support, long battery. The 1MORE SonoFlow ($55) is absurd value here with LDAC and 70-hour battery.
$60-$100
Solid ANC, multipoint Bluetooth, app with EQ. The Anker Soundcore Space Q45 ($100) delivers 80% of what a $300 headphone does.
$100-$200
Good ANC, premium comfort, brand-name quality. The Sony WH-CH720N ($98) and Sony ULT Wear ($198) fill this range. ANC quality jumps significantly.
$200-$300
Excellent everything. The Sennheiser MOMENTUM 4 ($290) is the sweet spot for quality-conscious buyers who want premium sound and 60-hour battery.
$300+
Marginal improvements over $200-$300 range. Sony WH-1000XM5 ($398) and Bose QC Ultra ($429) are the gold standard but the value curve flattens here.
The biggest bang-for-buck jump happens between $50 and $100. Below $50, you sacrifice a lot. Above $100, each dollar buys less improvement.