Because headphones are now a huge consumer market there is now the mass production of all types.
With this comes both the overpriced junk and some great deals on some very usable phones. I believe they are all manufactured about the same way and the price is more a marketing strategy. And I think some old trusted name brands are also now sourcing from the same factories in China. Those factories specialise in customising orders over 1,000 and just put different labels or the shape of a little piece of plastic to suit.
I cruise the dollar stores which are the dumping grounds for no name stuff. Just look at the way they are built, then I take a chance for $10-$16 and buy a set. Out of these I have found a few that are on par with my $100+ collection of name brand phones. Some have seen a lot of use for over 3 years now.
I go back and buy a bunch once tested. I now have a dozen or so for when I need them. All for the price of 1 set of name brand.