Yeah, there are just as expensive Android phones, but it has many different brands with varying reputation. iPhone on the other hand is just one brand and there is an already established image of it as being high class. Precisely as you said, richer folks buy expensive iPhone simply because of the brand, not out of practical reason as to why the item is expensive like labour and material cost. A lot of the times, the prices are made out of sheer subjective perception. Showing off having an iPhone signals to the date “I’m rich, fuck me.”