I think that high end consumer audio is quite different than other types of manufacturing (I've been in manufacturing for over 40 years). High end audio as we know it today is largely driven by a conceptual story that the principal owner/designer wants to tell. Without that story a company can't charge multiple times the price that other companies charge for similar performing products. One of the characteristics of the ultra high-end is that companies do things the hard (expensive) way and claim that this methodology improves the sound quality. The process described by the OP just doesn't apply to this segment. Ultra expensive cars are another example of making very costly design decisions that don't necessarily lead to higher performance.
In mass market audio I think the process described in the OP is more applicable. The Chinese are becoming the most skilled manufacturers on the planet and they are masters at making cost/performance tradeoffs that provide the best performance for the money. Companies like Topping, FiiO, and Eversolo, are producing very well designed products that compete with products many times their price. I realize that this statement will anger some audiophiles but we must note that there is virtually no evidence that using blind testing methodology a listener can distinguish between a $1000 DAC and a $20,000 DAC. If the audible differences were easy to distinguish the high end audio companies would be running these tests all the time and crowing about the results.
Regarding "Snake Oil," IMO, there is not much difference between a company making $10,000 cables and a company making a $100,000 DAC. In both cases there is absolutely no objective evidence that these ultra expensive products sound any better than those that cost 1/100th of their price. Again, if that evidence existed the companies would be promoting it every day.
This design and marketing game is enabled and supported by a cadre of reviewers and internet influencers. The industry depends on everyone believing that more money equals better sound. But the largest enablers are audiophiles who believe, contrary to massive evidence, that they can hear huge differences between two DACs or interconnects that measure functionally the same.
So, my point is that the design and manufacturing proocess for high end audio just doesn't correlate to a typical consumer product. I believe that in many cases the owner/designer is intentionally making decisions that will raise the cost without regard to whether or not it improves the performance. They execute the design and parts choices that support the story that they tell to the dealers, reviewers, and the customers. If they use materials, processes, and parts that are difficult and expensive to manufacture then they can claim that their $100,000 products are worth the money. It's as much about pride of ownership as it is about the actual sound quality.

