That is true, and it works because there is a market for high end vehicles. The market is there because the high end companies make a product that is measurably better than the mass market product from traditional manufacturers.

Such a thing really isn't possible in the cell phone market. A tiny shop can't build a phone notably better than an iPhone or a Galaxy. The only luxury phone provider I know about just glued diamonds on old dumbphones and went out of business.

Essential was apparently banking on people finding the modularity concept to be a killer feature worth a price premium, but that has not been the case apparently.