So I'm willing to trust that Apple knows what they do. Of course they will know what they do....until they don't :)
Coming from such a country(India). Its also treated as a sign of recklessness.
Heck its the same in US too. Remember that politician who chided people for having money for a $1000 iPhone every year but no money to buy insurance?
So very sad. Generally you see this with people that can afford it the least. $999 for the base model is just ridiculous. Next year Apple will offer the "first ever", "incredible" 10 year amortization on the iPhone XI. Soon they will reach price parity with the MBP and one could have apple gear or a down payment on a nice house Phoenix.
Why? It's not the "base model" it's the lowest capacity of the absolute highest end phone in the lineup, which now comprises five different phones at much more reasonable price points.
So your argument is basically that no phone should be that expensive? I can't speak for anyone else but I hate that. What is wrong with a super-premium phone? If anything phones are frustratingly constrained by their price point.
People use them in the way they used laptops 10 years ago, they're your central communication hub and for many people their secondary or even primary computer. What's wrong with having a high end option for those that use their phone more than everything else.
I'm buying the iPhone X day one. Why wouldn't I? I haven't upgraded my desktop, laptop, gaming PC, tablet, or smartwatch in 2-4 years, but that's because I don't use any of those things even close to as much as I use my phone.
If I'm spending multiple hours a day every day using something, you'd better believe it should be the best one available. If you don't feel that way, there are four other iPhone options and countless Android options at your disposal.
Yikes.