They are supply constrained by many of the materials and parts that are used on this phone (OLED screens, for example). You can bet that they will bring the price down to earth when they can manufacture in mass quantity.

You've got to remember they sell nearly 50 million of these things every quarter. They don't just appear out of thin air.

Maybe saving it for the iPhone X2. It could also have pre drilled holes for setting gemstones.

Yet Apple is still probably going to be making higher margins on this phone that a $300 Android phone manufacturer