Yes, but that right there is the problem. Nobody is saying battery physics don't apply to Apple devices or that Apple should have come up with some sort of magical battery that never degrades. Apple's decision to throttle the processor is probably justified in that it's the "least bad" solution to the problem of what to do when a battery is getting old. It can definitely be argued that slower performance overall is preferable to random sudden shutdowns.It's a battery folks! Do you yell and scream when your Maglite batteries go down? Do you throw it away and buy another one? No, you replace the BATTERY! Batteries, in every case I am aware of, degrade over time/usage.
What should do is have a pop up when the battery is starting to degrade to the point that iOS throttles it. Then you go to your local battery replacement store and get a new battery. Or give iFixit $30 and they mail you the tools and battery to replace it, (just like your flashlight).
SMH
The problem is that Apple implemented this change in software without telling anyone AND deliberately made it difficult for users to access official battery replacements from Apple. The option of a battery replacement isn't widely publicized to begin with and Apple won't even do it if their tests show the battery hasn't degraded to 80% capacity yet. But, the software starts slowing down the phone well before the battery has degraded that far. So, the user is left with a slow phone and may not know that a battery replacement is an option (and even then Apple might refuse). Given that information, the user decides it's time for a new phone, which is more money in Apple's coffers. Apple has an incentive to push people to buy a new phone rather than replace the battery, which is why they didn't mention throttling in the software release notes. If Apple was really acting in the customer's best interest, they would have alerted the user to the change when iOS 10.2.1 was released, offered a choice between throttling and random shutdowns in Settings, and made it much easier for customers to access a battery replacement (the fee is fine, but it's hard to get). Instead, they kept it quiet and hoped nobody would notice. That's incredibly shady and only serves Apple's bottom line.
It's important to remember that, while tech companies often market themselves as being our "friends", they're definitely not. They're still corporations who mainly care about their bottom line and keeping their shareholders happy. Apple still makes great stuff and offer an experience that is better than the competition. However, that gap has rapidly narrowed as Apple has become complacent and jacked up prices under Tim Cook. I'm not saying I'm jumping ship on Apple. But, I will definitely be taking a closer look at other options the next time I decide to get a new phone.