Youch, didn't realize those suckers were that costly! You could buy 10 bottles of Brilliant Pebbles
http://www.machinadynamica.com/machina17.htm or a couple wooden knobs for that price!
http://www.referenceaudiomods.com/Merchant2/merchant.mvc?Screen=PROD&Product_Code=NOB_C37_C&Category_Code=VOLUME&Product_Count=2Seriously though. I've heard them, they sound horrid, and I understand exactly why people would want them...though not necessarily at that price.
The WMS is marketed as "Performance everyone can recognize, simplicity everyone can appreciate, and elegance that speaks for itself." I think that one truth and two half truths ain't bad for marketing these days.
Performance everyone can recognize -- The media reviews as spectactular, thus they must be exceptional. Bose is a brand everyone recognizes, so if you put the label on anything, it will assume to be good. Similar things could be said about Musical Fidelity in certain circles. If its better than what you had before, and you don't know all your options, but you need an equivalent product, you will buy it, and frankly, you will be happy until shown otherwise. I'm relatively sure this could be said for a large percentage of the people on this board at some point in their life.
Simplicity everyone can appreciate -- I understand this one and consider it the one truth in advertising. Its simple, its easy to use, it requires no knowledge, no cables, can be carried and plunked down in the kitchen, bathroom, by the pool, by the bed, or on the deck. Its basic and mobile. People like that. People don't want fuss. People don't want space taken up. People want to have their music where they feel like being. I certainly appreciate that. When I go to a friends house, we unfortunately have to listen to one of these things. But also in the summer when we sit by the pool, he drags it out, and we have music. When we go outside at my house, I walk past a 45 pound tube amplifier and 100 pound speakers, and we sit outside without music. He wins and I'm selfish.
So part that it quietly and easily fits into people's lives rather than consuming it, and part because they don't know their other options. Brand recognition plays a huge part in things, whether you are a reader of Consumer Reports, Stereophile, or follow price trends on Audiogon.
Same bit, different target market, and each target market thinks the other target market is completely and totally nuts, and yet everyone is happy.
Take a tripath amplifier, a dvd transport, and a couple 2-4" drivers that aren't half bad. Give it both battery power and a power cable, crame it in a single box, and make it look pretty. Your target market will eat it up.
For the rest of the world, they will too....after you build your brand for 10 years.
Product placement and marketing can have more of an impact on sound and value than component break in.
Try it.
Have some DIY speakers that look like 'speakers' vs. something esoteric that will get a wow regardless? Buy some Bose emblems here
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=64616&item=5734965957&rd=1&ssPageName=WDVW and put them on your speakers. Invite a stranger over. When he asks who makes them, point to the emblem. Guaranteed to have good sound all afternoon for him, while it will sound worse for you.

Deep down, I wouldn't mind a bit of what they have, and if they heard what I have, they'd want a bit of that as well.
<cough> to manufacturers. We're lazy, we're tired, we want good sound. Now help us out!