This is symptomatic of Tim Cook's leadership. Apple hasn't had a significant hardware breakthrough since the iPhone in 2007 (even if the Apple Watch does reasonably well). The A4 through M2 is great, but it's extending existing technology from ARM rather than ushering in new use cases like an iPhone. Tim is an expert at squeezing suppliers and cutting them out of the chain in order to reduce costs and maintain profit margins in absence of innovation. He optimizes for cost. Makes sense for the former COO / supply chief.
But it doesn't always work out, and the 5G modem is case in point.
So Apple has spent untold amounts of money on recruiting Qualcomm talent for modem development in Apple's new San Diego office, but this is the result: failure to launch. So there's a real cost to Tim Cook's penny pinching here.
I miss Steve's Apple.