In Apple's case, more money generally gives more hardware. LIDARs, GPS modules in GSM iPads, more cores or more co-processors, etc.
I'm very aware that I generally don't pay for the bill of materials, and it doesn't bother me, because I get a far superior experience for a longer time.
My newest toy is 3rd generation AirPods my wife got me for my birthday. Do they sound better than my highest end headphones, no. Are they "monitor-flat", again no. But, they are practical, sound enjoyable and useful. Also they do a great job at projecting voice (podcasts, calls, audiobooks) at my ears with utmost clarity even in noisy environments without being loud, fatiguing and uncomfortable, and you know what? This is great.
Also, it renders Atmos audio beautifully. I enjoy listening to them, and this is what matters for me on the go.
And, they're paired to an iPhone X, and it's going out of support this year. I'll again get the latest and the greatest in shortest time possible and forget about phones for ~8 years.