The charging circuit controls how much it wishes to draw. The charger does not decide how much to push.
The iPhone is entirely in control of how much juice it pulls, thus it is also clearly designed this way. Unless you're claiming to know something that the engineers who designed the thing don't.
Exactly. If Apple didn't want the iPhone to draw more than 5W, it would have set it not to. They have complete control over that. If you disagree with that you are basically saying you know better than Apple engineers (which theoretically could be true, but I doubt it). It's foolish to think they didn't think about this stuff.