To me it looks like we've reached the inflection point. In the past businesses worked to lower costs, so they could reduce the price of their product and sell to more people. Looking at cars, houses, iPhones, nvidia GPUs, etc. everything is getting more expensive. This is likely because businesses must have 10-20% growth every year for infinity (because obviously there are infinite resources and infinite people with infinite money so companies can have infinite growth). However, eventually you'll run out of more people to sell to...so the only way to achieve continued growth for the shareholders is to increase prices.

The problem is that there is now a huge wealth gap. The majority are getting squeezed to death between inflation and insane housing market, childcare, lack of salary increases. So the only way now for these "luxury" companies selling iPhones and cars to achieve their infinite growth for their shareholders is to raise prices to increase margins, targeting the ultra rich faang employees.

We've had iphones in the past, but I wouldn't be surprised if in the near future iPhones become a luxury item that only the rich have.