The Sony WH-1000XM5 still makes a strong case in 2025 if you can find it on sale or used, because the feature set and ANC are still really solid. My biggest issue is the stock tuning—I basically want EQ right away, and I preferred the Bright EQ to bring back clarity and treble energy.
Pros
+Often a great value used (around the $200 range) or discounted new
+Very good ANC and solid comfort
+Bluetooth feature set is still strong (5.2 and good codecs)
+Good bass rumble for electronic and impact for drums
Cons
-Default tuning lacks clarity/treble to my ears (needs EQ)
-Only a 5-band EQ in the app
-Reports of hinge issues over time
-Analog wired mode sounds dark and worse in my opinion