The iphone is the best selling computing device in history and is among the most expensive in its category.
Of course people show off their iPhone. It's a big reason of owing one, it's also a big reason behind slight/major redesigns (people are able to show they have the latest model).
Perhaps you take "show off" literally, like someone going "hey, look, I have an expensive phone"?
It's way more subtle than that, only someone totally crash would do it that way. It's done the same way people buy expensive sneakers and clothes, or how people buy Teslas (or used to) and similar stuff. As a consumer identity that signals you afford a higher cost lifestyle.
This year, things look pretty comparable according to this shopping guide. You can get slightly worse or last year's line for about $100 less, or something with comparable specs (some better, some worse) for about the same price:
https://www.androidcentral.com/phones/apple-iphone/4-android...
The thing with price/performance is that it doesn't dictate high end or low end. It just says you need to be competitive at some price points.
https://cryptonews.com/news/china-doubles-down-on-crypto-ban...
Eh? The entire CPU & GPU wars for the last 30 years consistently rewarded the top performer above all else. Price/performance has always been the consolation prize of the loser of any given generation, and sitting in the price/performance pit for several generations in a row results in being essentially out of money in a fringe position. Like, for example, AMD's GPU division currently but also AMD's CPU division before Athlon 64 and also Phenom up through Ryzen.
Of course, like literally every other time this has played out in computing history, the companies focused on price performance will end up with more economic resources, and get to turn the upgrade crank more often and for longer.
Also, of course, China's way ahead of the US on things like renewables, batteries, and electrification of their economy. All of that feeds into cheaper power to run the models, but I suspect it's a second order effect vs. "improve the software".