It's not only subjectively overpriced, it is overpriced, objectively, as far as the BOM is concerned. What Apple does is to compromise on the most expensive core hardware but make it up on by having (1) a complete and latest set of ancillary hardware (e.g. sensors, connections, etc.) and (2) great software. Ultimately (1) and (2) are things that don't cost that much. They choose to spend the least to get the most bang, and not everybody has the sense to do that. Most other manufacturers go for the complete opposite.