Well, their profit did. The products hardly.
These days Apple seems focused solely on their iPhone/iPad business, positioned themselves firmly in the "fashion tech" segment (emotional purchases make most money), and really, only the iPhone business seems to do very well. And apart from making it faster/bigger, there's hardly any generational jump in terms of technology. It's just basic product iteration, hardly anything to get excited about.
If you think about it, it's crazy that Apple doesn't offer anything worthwhile to upgrade my 2011 Air for. The PC product line is pretty bad: old display technology (Air), form factor and spec well behind the competitors' (Macbook Pro), or just shiny computing rubbish (the new Macbook). I don't understand how the other companies sell rMB-like computers with i7s while Apple ships theirs with a Core M.
I can't blame Intel when Dell makes a 1.29kg, Air-like form factor, 13" XPS with i7 Skylake and 16Gb RAM sold here for CHF1799 (developer model) while Apple sells their chunky 1.58kg 13" Macbook Pro with 5th gen i5 with 8Gb RAM for CHF1949. No wonder the sales have plummeted.
Either way, I will upgrade this year. If Apple is not in the laptop business anymore, I'll switch.