As you are probably aware, popular phones like the iPhone 15 and Samsung Galaxy S24 (#1 and #2 in the USA) are in that range, costing $700 and $1300 for the 'basic' models.
That’s because subsidized plans don’t encourage shopping for the lowest price. Consumers just see free phone and optimize to buy the most expensive free phone available.
Sure, let’s just ignore the disastrous adware, bloatware etc that also “subsidize” these cheaper phones, to say nothing of the actual capabilities or user experience of said devices.
No such crap on Motorola phones. Posting from a five years old Moto One Vision. It's... a smartphone. It has a decent CPU, screen, camera, storage, NFC, etc. I couldn't say what's missing.
The only thing I'd get excited about in a new phone is a faster CPU.