If Apple stepped away from the profit margin approach a little with a less greedy outlook, they’d see significantly less consumers are using their cutting edge devices. From a design perspective you want to brag about your technology reaching as many people as possible. The sad thing is the majority of consumers see the price and settle for older or cheaper models. That might be fine for profits, but it’s sad for innovation.
Apple is a publicly held company, and like all publicly held companies, has a fiduciary legal obligation to maximize returns to shareholders consistent with the market and their business plan. Otherwise people would not invest in these companies. The phone market is currently pretty saturated, and I see that saturation as more of an impediment than prices.
As far as pricing goes, a MSRP of twice the manufacturing cost is common, and Apple seems to be in this ballpark. If the flagship is too expensive, there are multiple other viable options, the oft-mentioned XR being a great one, a friend’s wife got one last fall and is thrilled with it. 7, 8, X, XR, all are quality products. I don’t really understand what people are complaining about.