I don’t think it’s expensive at all. It’s an iPhone, which is usually made with premium components and has a high build quality. I’ve never encountered an iPhone which doesn’t have incredibly high build quality, so I pay more for them and have that reassurance that the phone will probably last a lot of years. Heck, up until last year I was on an iPhone 3GS, which came out in 2009, and was from 2009.