[ErikVandeWater]

Yes, he just chose a satisfactory cutoff for whatever counts as a "true" flagship. Some people would say only this generation iPhone. Some would say only this generation iPhone + Pixel + Galaxy. Some would say this generation, and the previous generation of iPhone + Pixel + Galaxy.

And even then, we're ignoring features like internal storage capacity for each phone.

Even if you are making $10 million a year, you split that between your yacht, your car, your mansion, and jewelry for the wifey.

You aren't going to have the biggest mega-yacht and no jewelry for the wifey, so there will be a tapering at the higher end of the demand curve for yachts for people making $10 million a year.