I suppose...
The best argument I ever saw *for* this otherwise blatant over-charging was that in reality, we have stronger consumer laws in Europe than the USA. Ultimately, guess who pays for the protection?
A case in point is the PS3 - When Sony disabled OtherOS functionality, here people were entitled to refunds & compensation if they could sensibly argue they bought their device to run Linux.
If your iPod stops working before a 'reasonable' amount of time has passed - i.e. 11 months from now, you get a 'free' repair/replacement in the UK with the supplier (not the manufacturer) being liable. I don't think that's the case in the US, as I understand it.
My final example is where I saw this whole argument in the first place: There was an issue with a particular laptop suffering from dodgy lid hinges after 6 months of use. In the UK, the supplier would be liable for getting these hinges fixed with items of merchentable quality - Much to the surprise of US buyers of the same laptop, who I believe were landed with the cost of replacement.