AppleCare is extremely cheap and comprehensive. I have had one Apple product fail in at least fifteen years and it was replaced without hesitation. It’s been nearly a decade since I’ve had an iPhone screen crack from dropping, and that used to be a regular occurrence. And if I do, again, it’s covered under AppleCare.
There are many harsh criticisms to be leveled against the company. This is not one of them.
I gave my old iPhone X to my father who's still using it, 9 years later, with software updates to iOS.
Compare that to the Google Pixel 2 (which came out in the same year), got it's last software update 3 years later.
Also, Apple repair prices are high, but not outrageous. There will always be someone claiming they can do it for less, but not many that will give the same guarantees Apple does.