This definitely seems like one of those 'too good to be true' products. There's only so much one can do with a budget for a $99-199 headphone. That said, headphones are also notoriously overpriced products so perhaps I'm wrong.
The styling seems decent, noise cancelling and can function alone without a phone. If this were $500 and well refined with good sound quality, you could see the iPhone of headphones here.