SmartPhones really aren't a status symbol anymore. Everybody has one, and various financing plans allow even low income individuals to get the latest and greatest. Sorry, but carrying around the latest iPhone is not the equivalent of driving a Ferrari.
In fact, SmartPhones have been a commodity item for several years now, just like computers. I don't replace my personal laptop every year just because new models come out. My company doesn't replace all our servers each year just because they get incrementally better. Making a purchase decision is part of a broader strategy. When a system is no longer in support, no longer efficiently performs the function needed, becomes more vulnerable to security flaws or costs too much to operate, it then becomes a candidate for replacement. Replacing something too soon is an inefficient use of capital. Waiting too long and letting something become obsolete also carries costs. There's a happy medium that balances cost and operational efficiency.
Has Apple priced me out of their ecosystem? No. Is the price/value proposition for a new phone make yearly upgrading worthwhile? No. SmartPhones are far better, far more powerful, far sturdier, and last far longer than yesteryear's phones. Just like modern computers. Make a sensible investment in a quality phone that will last a few years, keep it patched and protected, and upgrade when it truly makes sense.