I do agree with the notion that phones in todays society are hugely important and spending money on what for most people might be their most important computing device is valid.

But the thing is that you really don’t need to spend this kind of money to get all the performance 95% of people need. Unless you want a foldable phone or NEED the telefoto-lense that is often reserved for higher end models (but I assume even then there are cheap options),

As an example here in Germany you can get a pixel 9 for under 500€, if you get a cheap mobile contract even cheaper (I pay 15€/month over 2 years and got a free pixel 9 with the mobile plan). All the performance you need and makes great photos. And for anyone who wants lots of storage there are still phones with sd card readers