The contracts are technically legal but at the same time probably the whole exclusivity is against some kind of monopoly law that is rarely enforced. Verizon hasn't affected pricing, so there is really no competition if you want an iPhone. Maybe if it was offered with every carrier. If we had some government regulation and oversight and a national based cell phone tower infrastructure we wouldn't be so far behind other advanced countries and be able to offer the iPhone on all carriers. Also I'd rather pay unsubsidized price and do what I want with it.
Probably not.