My brother-in-law is overall a smart guy, but he works at Taco Bell full-time, making minimum wage in NYC (~$15/hour). He decided that he needed the newest iPhone 11, presumably because of some good marketing, spent over a grand (through financing of course...ugh), and he'll spend the next year paying it off.
I have nothing against the iPhone, I have one, but let's be honest here, do most people even benefit from the "newest" phones? He mostly watches YouTube and listens to music, and occasionally plays PUBG, all of which you could do on previous versions. He's also not some passionate photographer, so the fancier camera isn't going to make a huge difference.