Mentioned this elsewhere;
You're not entirely wrong, this has been a major part of it.
But you're looking at it in a very one-sided -if not blindfolded- kind of way 🙂
Those very coat tails and stock valuations you mention are why you can buy so many exceptional Apple products, at such a low price. Like my MacBook, which frankly beats anything in the market near or over its price by a good margin; dirt cheap for what it does, we're talking literally crappy Intel laptops at this price range.
And that's just one example.
He made that happen. If you don't sell by the boatload, it's just not possible to lower your prices so much that no one can beat you in the game; and he managed that, your criticism notwithstanding. Fair's fair.
* also, i kinda think this is exactly why he got the position in the first place? Between you and me? This is precisely what was expected of him when the reins were handed over. An insane undertaking, yet one that he pulled off in the end.
** i lastly feel.. hesitant to "criticise" someone who has achieved so much in their life. Don't know about you, but i kinda fall short of the 73KK he's making annually? Maybe you don't, i wouldn't know.