iPhone Edition's Controversial Price

While we did know this for some time, this is a really hard pill to swallow. The iPhone 8 or Edition or whatever will start at $999 for 64 GB [Source: The New York Times]. This is very deterring, but it probably won't change the fact that it will sell out. Take a look at the Apple Watch Edition (Generation 1), costing over $10,000 in some variations. People who bought those are now stuck with a slower processor than Series 2. My question is how much are we willing to pay for a phone that will immediately become obsolete? I understand that there are cheaper options for iPhone, such as the iPhone 7s, which is becoming more tempting. But Apple isn't supposed to work that way. Apple has always been about paying more for a higher quality product than its competitors. Not, here are your options: cheap phone, regular phone, and super expensive phone. Especially considering that the features in the iPhone 8 have been in other phones for years and that features have been sacrificed for the new design. My theory is that the price is so high to keep supply from getting too scarce. Apple probably cannot manufacture enough Face ID scanners and OLED displays to keep up with demand with a lower price point.