You’re equating price to size primarily and features secondarily and ignoring the actual product segmentation that Apple creates (artificially or not) for the iPhone 12 and 12 Pro Series versus the rest of the lineup. Trying to link them together in some sort of chain is not how Apple views them at all. The 12 and 12 Pro are entirely separate from the rest of the iPhone family, with the SE2 it’s own product line and the XR and 11 simply last year’s models being sold for less to soften the $$$ jump from the SE2 to the 12 mini. To Apple, the current models (12/12 Pro) represents the best Apple has to offer and the rest are serious afterthoughts, including the SE2. When viewed in that context, the mini pricing makes complete sense. However, Apple doesn’t need anyone to grok it, it is what it is.