Nokia's lines have always been segmented like this. See N-series or phones like 1100, 3210, 5610 etc. These tell the affordability and luxury "rating" of the phone. Some 6-7 years back when I was purchasing my phone, I had a budget hence knew which series would be affordable to me. (Albeit I settled on an abomination of a phone like 3250)

Although I concur Apple has the best approach definitely.