I think it's more that the jumps in storage density means that there are no 128gb chips on the market now.they are not cutting the speed of the SSDs, they are only putting one chip on the based model boards. they probably just stopped ordering 128gb chips. yes, likely has to do with profits.
There is no excuse not to stick 2 chips in or have 512Gb as the base model with decent SSD performance. The bulk purchase price for quality 256Gb flash is around $22 a chip now.