Yes. It's not just fancy magnets, but that helps. The industry got much better at modeling and designing dynamic speakers about 20 years ago. Low cost IC amp

Yes. It's not just fancy magnets, but that helps. The industry got much better at modeling and designing dynamic speakers about 20 years ago. Low cost IC amplifiers also got a lot better in the last twenty years, and anything decent that's fully integrated (i.e. name brand connected speaker devices, airpods, the speaker in your phone, etc) is going to have shockingly good DSP equalization by the standards of even 2005-2010. I don't know about headphones per headphones, though. All the audiophile-approved headphones I have around here sound much better than my airpods and my Bose noise canceling things for travel, and they're all 20+ year old designs. That includes the Koss Porta Pro (back on topic!), by the way, which I like a lot better than anything I've listened to that cost less than an approximate order of magnitude more. There certainly seems to be a market for headphones that cost more than a pair of Sennheiser 650s these days though.