This is such an interesting topic.
1) The iPhone X will not drop in price until the next iPhone is released
2) Apple always charged more for their products than any other technology goods manufacture. MacBooks, iPhones and all they have done is simply increase the price for their flagship model
3) The argument between rich and poor - Because I have an iPhone X does not make me rich nor does it make me poor. Rich aka as above millionaires do have iPhone X's look at Gary V, but also some of them don't.
Spending £1k on an iPhone is a luxury item of interest, a millionaire may not have technology as interest. But there are other millionaires who do not buy anything luxury.
Each to their own I don't see how rich vs poor needs to be on this thread. If it does buying a £700/£800 iPhone not come into this? What is too expensive for a phone? That work is a measure of cost made up by no else but you. Your expensive to mine is different.
Finally, if this conversation is going to continue I urge people to read the following books for mindshift change on rich vs poor
Rich Dad Poor Dad
Think & Grow Rich
Oh but everytime I am in Apple Store recently I see iPhone X's being bought....Apple has create a demand it will sell at there current price point