You are paying for the badge, and to be part of the 'club'. Certainly not for the best tech currently available! Also, it is a disgusting amount of money for a phone
https://www.theregister.co.uk/2017/09/12/apple_could_improve_iphonex_iphone/
https://www.theregister.co.uk/2017/09/12/apple_our_stores_are_your_town_square_and_a_1000_iphone_is_your_future/