Earlier quoted context omitted.
This is why you don't buy v1 of Apple products. Guaranteed that the next version will be at least $50 cheaper... which still makes it too expensive.
With the notable exception of the first iPhone not having a subsidy price for a month or two Apple products don't tend to drop in price much year to year. They've had the $199/$299/$399 price structure for the newest iPhones for more than 6 years.
I'm calling a $50 price drop for version 2 after this thing doesn't quite hit sales numbers.