[adventured]

The iPhone isn't a good social status signal any longer - the majority of smartphone users in the US have one. If the majority can afford something, it's quite obvious it no longer functions for signaling high social status.

The iPhone hasn't been a good social status signal for nearly a decade at this point.

[curtainsforus]

There's a 'waterfall' effect of status signals. The upper class uses signal A to differentiate themselves from the middle class; the middle class catches on, and starts using signal A to imitate the upper class; the upper class moves on to signal B, to differentiate themselves from the middle class; the lower class use signal A to imitate the middle class; the middle class uses B to differentiate themselves from the lower class and imitate the upper class; from there, it cycles.

ABA->BAB->ABA

The upper class aren't worried about being mistaken for the lower class; that's why 'ghetto chic' exists, and why Zuckerberg wore hoodies. Conspicuous adoption of low-class signals can be a signal of high-class- for a while, till the rest of the culture catches up.

Usual caveats of 'this is a simplified model' etc.

[hulitu]

Tell that to school children. "Daddy why can't i have an iPhone ? Everybody has one "