I love how every Apple related site has adopted to Apple's PR speech without questioning it. The "low-cost" was the "normal" price for the latest-and-greatest iPhone, until they decided to introduce the newest tech only in the 6 Plus (with a price hike). Then they raised the prices for the 6s Plus, 7 Plus and 8 Plus a bit, and priced the X over the most expensive 8 Plus. I think this is one of Apple's PR most amazing achievements, that everyone writes "low-cost phone" where parts have to be older or less advanced "to keep costs down" when - a few years ago - they showed that they could put the latest stuff in their flagship model for the same price which is now considered "low-cost".
I know and understand that Apple's main goal today is to raise their iPhone ASP and to generate more "Services" revenue, which is why I have given up to see more than 5GB of free iCloud storage, or more than 64GB for the entry level iPhone or more than 128GB in an entry level MacBook, but the XR is anything but low-cost.