Rainbow is not a color, it is an arrangement of colors, so it is a false equivalence to compare “owning” a color, and “owning” the rainbow. Moreover, in Pride’s case, it is specifically a 6-color rainbow (as opposed, like I said, to the typical 7 colors that are thaught to be in a rainbow).
Anyhow, there is no ambiguity here, we are not asked to determine what this band means, Apple makes it clear. In the name of the band. On the website. On the packaging. On the band itself. In the distribution of profits made on those bands. It is the Pride band, not the Rainbow Band. It is the only “rainbow” band they offer, so if someone wears it, it can be assumed that the person either is LGBT+, or an ally. If the only pink band Apple ever released was a Breast Cancer band, then by buying it and wearing it, you’d be supporting the fight against breast cancer — and people would normally assume you do so. I’d argue, because it is an arrangement of color rather than just a color, and that it came to symbolize LGBT+ to most of the western world, the association is even more evident in this case.
If you’re uncomfortable with offending either side of the debate, or worried wearing a Pride band makes a statement you’re not ready to make, I’d invite you to not buy/wear it. I can’t and won’t force you, you do what you want, but don’t be surprised if members of the community and homophobes alike assume you are
proudly showing support for my community.