Cheap Apple products is a long term net negative. Apple's justification for their price on high ticket items is not their technical edge, is the "cool people have it so might as well pay a premium for it". Lululemon did something similar to appeal to the masses and it backfired a few years after, opening the door for competitors that had nothing on them a few years back.

The iPhone SE was merely rebranded to iPhone (n)e. Exact same thing. Exact same product category.