As long as they don't use it as an excuse to increase the price this will be fine.
There have been lots of comments in this thread talking about raising the base-price of the iPhone.
While Apple certainly could... I think it would be a bad idea. It would be going in the opposite direction.
Tech is supposed to get cheaper over time... not more expensive. The base-price of the iPhone has remained $650 for many years. Staying the same price is somewhat tolerable.
But more expensive? Horrible.
The Macbook Air started life as a 13" laptop for $1800... and it was $2800 with an SSD.
Now the 13" Macbook Air with an SSD is $1000.
While a phone and a computer are two different types of devices altogether... lower prices is the general trend I would expect from ALL tech devices in this day and age. I'd argue that the Macbook Air has received hundreds of changes over the last 8 years... and its price actually went down.
People are already questioning whether the price of an iPhone is justified anymore.
Raising the price would give people even more reasons to look at alternatives.
In short:
Same price... meh
Lowering the price... great!
Raising the price for no reason... unacceptable