Earlier quoted context omitted.
A $399 iPhone SE that has gotten seven years of OS updates and is still getting security updates today is as cost effective as several bargain bin devices that have to be quickly replaced.
Maybe. If you have the $399 upfront or the credit rating to get it on a phone contract. If you have anything to spend on buying a phone at all as opposed to having to use whatever hand-me-down device found its way to you.
Given that Apple just issued another security update for the decade old iPhone 5s, your ability to hand down an iPhone is greatly extended, especially compared to the support policy you get with a bottom of the barrel Android device.