Always hated comparing Apple to something like Mercedes-Benz.
Mercedes-Benz costs 3 times as much as other cars of similar capability, despite being inferior in terms of quality and reliability. The brand is enough to carry sales, as the price is what makes it a status symbol.
Apple on the other hand makes products that are priced the same or cheaper than their competition, and the quality is tactile and style based, as opposed to actually real. The problem rates of Apple products are pretty much equivalent to their competition.
The only thing that gives Apple "status" is the perception that its a premium product. Which it really isn't. It costs the same, is pretty much the same in terms of quality, etc. It just has an appealing aesthetic to it, and people like it, and are fanatically loyal. The marketing is really good.
If Apple gets cheap, its no longer premium. If a Benz cost the same as a Civic...nobody would give a damn anymore. Its all perception. People pay a lot for something, and want to believe they got a lot. And want others to believe it.