Whether it makes sense to exchange cheaper gifts in order to buy something more valuable is difficult to answer.
If the original gift is not needed or not liked, exchanging it can help put its value to better use. By combining several gifts or adding some of your own money, it is possible to purchase a higher-quality product that may be more durable or useful. In addition, a more valuable product might bring more enjoyment, which is ultimately the goal of a gift.
However, if the giver learns that their gift was exchanged, feelings could be hurt. This might strain the personal relationship. Moreover, not all gifts can be exchanged easily. Receipts may be missing or the return period may have expired. If the exchange process causes additional costs, such as shipping or fees, these could reduce the benefit.
There may also be alternative approaches if the gift is not needed. It might bring joy to someone else if it is donated. Keeping it and complementing it—rather than exchanging it—could also make more sense in some cases.
However, if the decision has been made to exchange the gift and purchase a rare and value-stable pair of headphones, it is advisable not only to look at the technical specifications but also to check the price history or the used market to see which product is more attractive.
And here the comparison between Audeze and ULTRASONE is quite interesting. One thing in advance: ULTRASONE has not changed the price of the Edition 15 over the past 8 years.
My opinion on this:
Before the exchange “has” to begin, one might also consider asking the giver to contribute toward an Edition 15 Veritas. That way the giver immediately knows what the gift will be used for and that it will certainly bring joy. Alternatively, several people could join together and give a more valuable gift.
That way—given enough people—even a dream can come true!

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