Correct.
How much is it worth to you to have a machine that is beautiful to look at and which has as few extraneous cables as possible? For many people, the answer is "very little" and those are the people cheap Dell grey boxes are for.
On the other hand, if you want, say, a sub-$1000 laptop (just something for email and net browsing on the go), Apple can't help you at all, and in that regard price comparisons are kind of irrelevant: you can pick up a Dell laptop for $600 that probably wouldn't be enjoyable for heavy everyday work but is fine for the casual use most people intend on when they purchase a machine.