Of course, it's in Apple's nature to have their products highly priced. That's how it's always been and that's how it will always be, but electronics are getting cheaper every day, you can buy a brand new laptop for $400 nowadays. Granted, it's plastic and cheap, but you can go out a buy a new one in 2 years, and still wind up paying less than you would have for a MBP.
The same goes for Smart Phones, I got one recently for $60. Nothing extravagant, but I'm not locked into a data plan and if it gets dropped/smashed/dunked in a toilet etc. I'm not out a ton.
The gap between Apple Products and "Cheap Electronics" is getting larger and larger. I think making a cheap iPhone would be a good move on Apple's part, but history tells us they'll do otherwise.