Apple wants to make the best so that they can have the most margin. It probably costs around $350 to make this phone, and maybe $400 for the maxed out models, but Apple screws the customer on price anyway. They could charge $750 to $800 for any of these phones and be doing well.
This is deliberate. Apple will continue to do this only as long as people are willing to throw their money away. If nobody bought the XS Max, with the ironic name, Apple would be forced to offer discounts and be more reasonable in their pricing structure.
I am still happy with my iPhone 6+, but these prices are so insane that I will not buy the latest models. I could be just as happy with a cheaper 1 to 2 year or model, or a different brand. There are $500 phones that people can be just as happy with.
A dollar per day will not pay for this phone in two years. Maybe three years, but some models would take four years.