TRANSPARENT CABLE VALUE

simple answer- time spent calibrating the networks by humans.
a little background- back a few years ago the transparent catalog was much simpler and easier to understand. you had std, plus, ultra, and reference as i recall. i thought from looking at the graphs in the brochure that ULTRA offered the most value for the dollar. but this was prior to XL technology, then MM1, and finally MM2. forget carbon fiber- it looks pretty but i personally don't think it's worth the expense. you can always call them and ask their sales rep for their honest opinion. i guess you'll have to tell them your budget as well.
I still have some ultra interconnects hanging around for spares.

tell me what is the most expensive part of the cable,

Marketing...seriously

How can most ANY cable manufacturer justify the price?

how can you justify the price?
-same as designers of women's dresses that get worn to the Oscars i guess.
absolutely incredible amounts of money spent for a couple of hundred dollars worth of material. and 90% of them look amazingly weird instead of sexy or elegant. the men look decent in a tux which is a relief.
I own Opus cables, a result of a (very) gradual upgrade program over 15 years starting with Ultra and getting the next level up over time. they sound pretty good, but i have never compared them to anything but the previous set of transparent wires- but not competing manufacturers. the only way i can justify ending up this way is by the excellent service the dealer provides gathering up the old and setting up the new. and of course the deep bass improvement is very apparent, along with a deeper stage- and this happens on day ONE. you don't have to wait a month for them to break in.
It helps to have a great pair of full range speakers that you love the sound of to conduct this experiment. in my case it was Eggleston Andra-2 speakers.
Starting from scratch however, unless you're buying used, they are not a good deal. BUT a transparent dealer can probably work out some arrangement for you, even if it just starts with a pair of interconnects.

Try Purist much better value.