The iPhone 8/X generation turned a lot of people off because of its totally unaffordable pricing. The 8, which took the entry-level spot but was essentially a previous-model phone, cost $700, and the X was $1k. They’ve made this mistake before.

The only possible saving grace that I can see is that it’s an image strategy: price a product very high in the first generation to build an “exclusive” image, then lower its price over time to increase sales.