Honestly, I can't comprehend -- either end of equation. Why is there shortage of devices, and why are people waiting so stubbornly -- especially given Apple's history of lowering prices a few months after launch.
Apple frequently doesn't lower prices on anything until the next model comes out.
And I think day 1 lines have a lot to do with the stores being crowded with limited space and staff, not just supply.
Also, ramping up factories to build this is hard. And you don't want to have an extra factory just for launch day, you want supply/demand balance longer term. You can build up some supply before launch but you don't want to delay launch for a long time to build up aging supply.
Most of the people are camping out for publicity, not for the phone.
Just asking, because I didn't know about this, but do Apple usually lower the prices after the initial launch? Isn't it like usually when they release upgraded models?