Earlier quoted context omitted.
A technology doodad getting 25% cheaper in real terms over 15-20 years is about as far opposite as you can get from a hefty price drop.
Come on, the iPhone had: - no app store - no video recording at all - no copy/paste function - no selfie camera - no GPS Just to name a few. I won't even go into things like touch/faceID, wireless charging, iCloud, any form of water resistance etc. And then in terms of the specs on what it did have that got better, processor, memory, storage, screen quality, battery life, camera, it's all orders of magnitude better.…
Touch/faceID is cheap, wireless charging is cheap, the free tier of iCloud is cheap, water resistance is cheap.
Yes the specs have increased a ton. When asking for a model under $500, the idea would be giving up some of those specs. And that's clearly possible; even low end phones these days are a zillion times better than an original iPhone.
And no I will not look at non-iPhone things when I'm evaluating whether iPhones underwent a hefty price drop. The cheapest iPhone these days is slightly cheaper than a first or second generation iPhone, and the best one is a lot more expensive.