I have no doubt that you handed someone $199 in a store. But the question is where the other $450 went.
Yep... that's what I found.
2014 Verizon - iPhone - subsidized:
$199 down
Unlimited voice/text
2GB data
Total = $75/month
2016 Verizon - iPhone - device payments:
No money down
Unlimited voice/text
2GB data
$27/month for the phone
$20/month for "line fee" (voice/text)
$35/month for data
Total = $82/month
In this example... it actually costs a more per month in 2016 than it did in 2014.
But that's for a paltry 2GB. It appears to be cheaper today when you want more data.
I found a 10GB plan from 2014 with a subsidized phone for $140 a month... whereas you can get 12GB today with phone payments for only $127.
So I dunno.
I have learned something today though... the carriers purposefully switch the plans around to confuse us! They must do this so they can raise the price and we have no way of knowing how much it changed!