The thing with planned obsolescence is it serves a much more important purpose..
What Apple don't want is the userbase of Android or Windows – where everyone's using different hardware and operating systems. If you want to provide a seamless, modern experience, you really need to know that your users have up-to-date hardware, suitable security, processors fast enough to run AI, etc.
So I spend £1,000 every 3 years or so on a new iPhone. Works out to about £1 a day, I suppose. You could definitely have all the functionality of a phone for a lot less. But apart from silly, overpriced cables and things, I always find Apple one of the best value purchases I make.