Aren't you simply justifying the cost of AppleCare+ to yourself?

What if they gave you a working product as one would expect at that cost? AppleCare+ is pointless.

If they gave you a defective product with no Applecare+? Tough luck?

You are also coming at this from the perspective of someone running a business, purchasing bulk items. Not that it is justified on Apple's part, but AppleCare+ would lead to less 'friction' from Apple as far as repairing defective units that are more likely at that number. Likewise, you could probably claim AppleCare+ as a business expense.