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Apple calls 128GB 'lots of storage' in new iPhone 15 ad | AppleInsider
(appleinsider.com)
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Yeah, but if this is apple, and today, then well... It's actually on par for apple, pay twice the amount of money for twice lower specs, lower quality, harder (near impossible) to repair, it just looks nice and shiny, is all.
That said, my main point was that their storage configs are pretty inline with the rest of the industry. Hardware prices are inflated, but that's been true for Apple since the 80's.