In marketing terms its called "affordable luxury," and it belongs in the domain of the middle class.
And that's the class of "wealth" that Apple might be be targeting. These people who think they can afford an extra feature or data plan without fretting about whether the marginal cost of the 3G chip, mbits of data, car badge, or alligator logo might actually be close to zero.
The higher classes of wealth aren't very relevant to consumer electronic items, unless you're working a product placement deal with a rich publicity hound.