While snooping around Apple's website, I stumbled over this add for recycling old Mac products. I guess they are expecting a lot of recycled iPhone fairly soon. I don't know, to me it seems that way. http://www.apple.com/environment/
Nobody is forcing you to recycle your iPhone. Apple is just giving us the option in case we want to get rid of the iPhone in the future, or now if you've got the cash for a new one.
I say bump the recycling program. Whether it's in true care for the environment or a marketing gimmick, they seem to be exploiting it for all it's worth. See the pictures? They put the idea that those products, even a 2G iPhone, is worthless. Come on, really? And who could really 'recycle' a working iMac G4?