I must say that if many people never heard a well optimized system/dedicated acoustic room,
almost all people never heard a well optimized headphone system...
Why ?
In my case at first it was price...
The 10 headphones i bought were all with the same defects : inside the head artificial imposed soundstage (big or small nevermind artificial) timbre unnatural at some level... Lack of deep bass... No higher frequencies aura instead piercing one or rolling off one ...
Then i discovered it was by faulty design in the worst case or design limits in the best case...
Why?
Because i bought one with none of these defects after optimization because of his special complex design...
I dont know about Raal,Orpheus,or top Hifiman...
But their price is many times the price of my speakers system...I dont have this budget and reading reviews i cannot conclude that they beat my K340 on all acoustics factors only on some probably, and there is many acoustics factors at play here...And some headphone design cannot be optimzed at the same level than others they are not flexible...
I converted to headphone as my main system for sacred hours of listenings even if my low cost speakers/room system is satisfying because my headphone beat it on timbre count, deep bass count, spatialization count...
And dont think a second my low cost optimized speakers are bad or mediocre...I prefer them to magnepan or my Tannoy dual gold not optimized and in a living room...
I chose headphone not by choice but by obligation...(after loosing my first dedicate acoustic room)
i knew headphones are most of the time very bad (compared to my past dedicated acoustic room ) probably at any price...
I had no other choice...
But i was lucky with my last headphone purchase... Thanks to Dr. Gorike ...
Then the choice between speakers and headphones is one of convenience,budget,age, etc... It is not about S.Q. superiority...
Except it is possible to design an headphone which rival speakers on most acoustics count and factors, as speakers in non dedicated and uncontrolled room cannot beat some headphone on all factors...
Acoustics rules over trade-off designs,headphones or speakers, not price....