Apple seems to have proved your point, but they seem exceptional in that respect. Typical reasons are that the broader you make the audience, the more you have to dial down exceptional features for cost, scale and broad appeal.
Deciding to trust the good judgment of your customers and put faith in your ability to appeal to their sense of value, rather than simply their cost-watching ability, is a brave and bold move. I think it is awesome that it turns out to pay off.
PC manufacturers went with the strategy of “we used to be able to sell a machine with these features for $1000, and now that components are cheaper, we can sell it for $800”... and then they got into a price war that destroyed one another’s margins.