Yeah, iPhones are pricey. But for me, and maybe for a lot of people, a phone isnt just an "investment". It is something I use every single day. It is like a tool. And if it helps me do things better, then it is worth it to me. You are saying iPhones are overpriced, and maybe they are. But "worth" depends on what you need.
Yeah possibly the person doesn't have any phone at the moment and having such funds at that moment what's wise to do is to get a phone maybe in a low range then you can invest any other money left after you must've undergone the process, cause with the help of your phone you can unfold many aspect that will generate you more money but using all for investment is a wise choice as well but can you be able to bear it.
It all comes down to what we can conveniently afford at any given time, an iphone is not what you buy everyday but before buying you need to ask yourself if it's a priority to you. If it makes your work faster or it has some features that enhances your output then buy it not minding that it's expensive. If you can't afford it or you're buying just for luxury or to feel rich, then it's not a good financial decision. If you're not financially capable to buy an iphone and owning it does not add value to you, it's best you buy an Android phone that you can afford. Use your hard earned money that you want to lavish on it to invest in a profitable asset like Bitcoin, wait for bull run and buy it with your profit, while your capital is still intact.