Sure, but rich people with frivolous spending habits are a finite resource. After a while you run out of rich people you can monetize so your growth slows to a crawl.
Who is richer? Toyota or Porsche?
I think Apple is *very* happy to be Porsche in this story
Neat trick: create an ecosystem that genuinely helps your users live well & prosper, increasing their wealth so they can spend more money. It’s a circle of something!
Hence why most of them brushed with bankruptcy and had to be bought out by bigger conglomerates that give them access to the supply chains and economies of scale the likes of VW or Fiat enable.
It's how the famous Swedish SAAB went bankrupt. They were spending most of their budget on developing a decent media infotainment unit, instead of using a terrible already developed one form the GM parent company.
Customers couldn't really bring themselves to pay the high end luxury prices VW was charging for something with a VW badge, so they went back to making low end cars... the current VW lineup are again all pretty low end cars.