The problem with that logic is you can't compare what things used to cost and say how great stuff is now. The 1984 mac was $2500 (which is about $5200 in today's dollars). Does that figure have any meaning in helping value a modern computer. You can buy 3 13" touchbar MBP's for about the same price in real dollars as an original base-model mac.
My first VCR was $1500 some time around 1982. Putting it over $4000 in today's dollars. Should we compare that to the value of the AppleTV?
Technology makes things way cheaper over time. The first transatlantic passenger airplane tickets cost more than the average price of a house in London at the time. Airfare is an amazing bargain now too.
TL;DR: You have to look at the value of an iPhone in the modern world where cell phones are under $20 and smartphones under $100. Not compared to phone prices more than 10 years ago.
You're absolutely right, I should have given the subject some more thought. im still not convinced that 1k is worth it for a rumored iPhone, best thing I guess is to wait and see.