A $10 BT speaker is not in the same sub-category as a smart speaker, nor price is the only complain I wrote about the HomePod, but thanks for your reply.
The only other real complaint you wrote is about HomeKit, which will surely work well with the HomePod. The HomePod is designed to be the best of both a smart speaker and, well, a music speaker. If it really achieves that goal, it will be worth the price. If not, then of course price will become an issue.