I have the opposite perception of prices. I can buy a $700 to $1,000 iPhone 13 mini or iPhone 13, and I know it will work well and receive software updates for at least 5 years.
I know this because of many years of experience, and I am using an iPhone XS from 2018 right now.
My wife used an iPhone 6 from 2014 to 2018, and we still use it as a baby monitor, I used an iPhone 6S Plus from 2015 to 2020, and my daughter uses a 2020 iPhone SE.
My mom uses an iPhone XR from 2018. The point is, I have lots of data on iPhone (and MacBook Air) longevity, so I trust them.
On the other hand, I still have no idea if any Android phone vendor offers software updates for more than a couple years, much less if the phone actually continues to work well. I had a string of bad experiences between Nexus and Xperia devices from 2011 to 2015, so I learned my lesson then.
The amortized cost for me is much less than any alternative Android.