Seeing as I completely and totally reject your conclusion on a fundamental level, I would like to see the analysis.
Apple has remained sexy in the face of mainstream, a feat that I'm incredibly impressed by.
Say what you will but many, many people still buy iPhones today because of the allure of it -- and if what you had said was true (that Apple was acting as as a beige undifferentiated manufacturer) than the exact opposite would be true. People wouldn't find Apple's products alluring any more.
Seems to me that the only people who don't find Apple's products alluring today are the same ones who never have -- and Apple gives as many shits about them today as they did a decade ago (none).