Going back to 2008:
> But the most fun on the conference call came when he parried analysts’ questions about new product areas that Apple might or might not enter. A recurring question among Apple watchers for decades has been, “When is Apple going to introduce a low-cost computer?
> Mr. Jobs answered that decades-old complaint by stating, “We don’t know how to build a sub-$500 computer that is not a piece of junk.” He argued instead that the company’s mission was to add more value for customers at current price points.
* https://archive.nytimes.com/bits.blogs.nytimes.com/2008/10/2...
USD(2008) 500 = USD(2026) 760:
* https://www.bls.gov/data/inflation_calculator.htm
which is about what the Neo costs.