I tend to agree, or I would, if people all around me in one of the more down-market areas in the 'burbs here weren't walking around (and, sadly, driving around) with their noses stuck next to those beautiful OLED screens, notches and all. When you pay (at essentially zero interest) over two years, a thousand simoleons is just over US$40 a month. Divide that by the 8 hours or so a day most of the locals appear to spend with bowed head, and they're really bot spending very much. And who knows, perhaps all the facial stitching you do for animojis is good for you health somehow. Somehow.
Maybe those clever capitalists in Cupertino have figured out that at that rate of financial pain, punters really do think they can afford a little high-end bling in their lives. Ya think?