When a device that most will spend $449 on is "cheap" you have to admire Apple's price anchoring[0], they release a $1249 flagship and suddenly what the largest iPhone 5S flagshp cost ($442.09 inflation adjusted to 2020) at launch is considered "cheap."
It is undeniably a nice phone, but we've all lost sight of how much any of us should be spending on smartphones when $449 is celebrated for being a bargain. We've lost perspective.
PS - This isn't exclusively an Apple thing. Google's "bargain" Pixel 3a is essentially the same price.
[0] https://en.wikipedia.org/wiki/Anchoring_(cognitive_bias)
[1] https://www.apple.com/newsroom/2013/09/16iPhone-5s-iPhone-5c...