Compared to Samsung, Sony, iPhone or recently Oppo their flag ship phones always appeared at a reasonable price point. Also their light/$2-300 phones series usually wasn't a complete joke like with many other major names.
In the China brand lifecycle, Xiaomi was just at a different phase of the cycle than Huawei. Now they also have €1000+ phones to compete with Samsung and Apple flagships. Similar story happened with OnePlus.
Xiaomi has very premium phones, yes, but they still sell flagship killers and from all we know they will continue to do so for a while, unlike OnePlus, which only makes flagship and low specs, no flagship killers.