And the software side of those updates is bad.
Apple hardware is probably better than ever. The mechanical engineering and precision involved blows away anyone else in consumer electronics. The new MacBooks and iPhones are truly works of art compared to the cheap injection-molded stuff everyone else is pumping out.
But the software just keeps getting worse and worse.
My iPhone (and those belonging to my friend and family with iPhones) regularly has strange graphics glitches and Springboard crashes. MacOS is a clusterf*ck with tons of poorly-implemented useless "features" and UI glitches.
My suspicion is that Apple is hitting a level of software complexity where the development and maintenance costs of correct code are too high. I believe writing correct software has a super-linear cost; if you have N components in your code, you can expect something like O(N^2) cross-component interactions in your code, because any given piece of existing code is likely to interact with some portion of new code. I suspect Apple will have to change their software engineering practices if they hope to go back to a good level of quality and usability with a reasonable temporal and financial engineering budget.