> $900+ is a LOT for a phone though.
Absolutely, but also, sort of not. After all, you'd want a decent phone, that sets you back say around $200 nowadays. The $700 then is really the premium you're paying.
Now you mentioned the 4S. It's still worth $100, whereas the resale value on a $200, 4 years later, is probably pretty much zero in comparison.
So now you're paying a $150 premium per year for the top of the line phone. Per month it'd be about $12.50 to have the latest tech instead of say the Moto G (sweet entry level phone).
Is that excessive or a lot? Well if you're earning a few k a month and you're on your phone 10% of the time, not really. Comparing it to say the cost of your car, your food (a $12.50 lunch), your entertainment (a $12.50 movie ticket) etc, puts it into perspective.
Anyway don't get me wrong, I'm on an iPhone 4 myself haha. I just don't have a need right now and raised on little, $12.50 is substantial when your disposable income is near zero, so I totally get it's a lot. But for a large portion of Americans who are on their phone a lot, the cost-benefit for this purchasing decision is tremendously positive.
Isn't the base model $750 btw instead of $900? Pretty sure it was. Of course you'd need to buy a plan as well.