The shtreimel is the preferred headgear for Chassidim.
And my promised two comments:
(a) $1200 seems a lot of money to me. No, not for a hat that is, if genuine, made of expensive animal fur, but for families many of whom live on subsidies, much through state-sponored distribution.
(b) and they could also be wearing, for a short time, this type of headgear:
and that would be a real mitzva.