Actually, the mid-range Android phones at $200-$300 are very good nowadays. The only issue is support. OEMs will simply release the phone and that's it. Zero updates.
I don't think Apple will do this. However, if they did, they will have a huge advantage, since the 5S will probably be supported longer than the newest mid-range Android phone.
Nexus 5X will have amazing support for a $270 phone. The Moto G 3rd gen might get decent support hopefully. Sony is working on introducing new midrange in the US. The One Plus X might get some support. There are certainly options if you know where to look.