This is a great analogy. Very accurate too.
iPhone has become the "Ford of Smartphones".
iPhones are now a dime a dozen, seen everywhere, they've lost their exclusivity and are approaching a commodity item. WalMarts sell them, and every Joe Blow has one.
It being a product found everywhere is what Apple and the consumer both wanted. So you proved the point you weren't trying to make. It's not like people buy iPhones for social status.