Here in the UK, CDBs are £80 vs the £200 you're talking about (or $70 vs $170 that I can see on amazon.com).
Basically avoid really cheap, but you don't have to go to $200 though.
Also, we seem to be in a weird spot fashion wise right now. Hipster fashion doesn't seem to be fading. Reddit's MFA (male fashion advice) was recommending chukka boots and white trainers like 6 years ago and we're still there, same with skinny suits, etc.
Fashion, while apparently highly disposable for women, seems to have stabilized for men. MFA talk about "timeless" pieces, but in reality wearing chukkas, white trainers or slim suits in the 90s or early 2000s would have made you look like a plonker. When I was young Doc Martins were cool, then they weren't, now they kinda are again? I also remember Hush Puppies with a particular look were cool that really aren't today.
Same with dress shoes too, black, square fronted dress shoes were considered good, while pointy brown dress shoes were incredibly old fashioned. Now it's the other way around.
That said, those crepe soles are like ice skates in the wet...
CBDs and white shoes are definitely on their way out, but it will take years for that to happen, whereas women's fashion changes very quickly.
Source: wife works in production for both men's and women's fashion.
The average person is probably better off just buying a 30 dollar pair at Target and putting 470 bucks into the stock-market.
Not dealing with the hassle of shoe-shopping every 6 months? Totally worth the money.
And time is money too.
Also, get factory seconds and you'll pay WAY less than $500 for a good pair of shoes. I think it was $~200 for me.
Where Allen Edmond shoes are the real winner is compared to the shoes a level or two below them. Like Cole Haan. They last a lot longer but only cost twice as much.
Allen Edmonds are my beater/non-fashion oxfords. I'm going on year five of near-daily wear with them.
They'll last you forever.
Except mine DEFINITELY look a little aged on account of all the daily romps in the woods I do, lots of mud and wet grass. Most other shoes would've been long destroyed by now, though (looking at you, Doc Martens "fashion" boots).
I've had less luck with my AE dress shoes, but I think I'm being too harsh on the leather soles.
I got a pair of their work boots (1412, specifically) five years ago. I've worn them pretty much every day since then, and they're still perfectly usable.
Did a similar thing with Allen Edmonds dress shoes. Yes, they were expensive initially, but given how little I wear dress shoes, I wouldn't be surprised if they last me the rest of my life.
Now if only I could find a solution for clothing...