They are priced to the point where people will pay for them not sure about fair vs unfair in that regard.
Trouble is, nobody knows how many they
would sell if the base RAM/SSD specs were slightly better or the upgrade prices slightly more reasonable. The need to get the right balance of volume vs. price is pre-101 economics (getting it
right - not so easy).
Conversations with PC users as to how wonderful the M-series chips are tend to come to a shuddering halt when they reach Apple's RAM/SSD prices. Windows is deep into encrudification (unless you're an enterprise customer and get the crud shut-off tool) so why aren't Apple pwning Windows right now?
When I "upgrade" my 3+ year old computer, I would normally expect to bump up the RAM and internal storage, because that's the way it has rolled for the last 45 years (well, maybe 6 months in 1980 has stretched to 3 years in 2025). It's not unreasonable to expect RAM and storage specs to keep pace with processors that can crunch exponentially more data and media formats that use higher resolutions/rates.
At worst that 3-year-old PC system is likely to be 8GB/512GB and even 16GB/1TB was hardly unaffordable on a. ~$1K PC 3 years ago - so if you buy a base Mac with 16GB/256GB where's the upgrade? The RAM bump is just the acceptable minimum, and the storage is a major downgrade (esp. if the first thing I'm going to do is copy all my files over...)
Even coming from a 3+ year old base-model Mac, the only "upgrade" is 8 to 16GB RAM.
Building a reputation for being over-priced is not a good long-term plan. Even things like the polishing cloth, Pro XDR stand and Mac Pro wheels - while being of zero practical consequence for most Mac users - really made Apple a laughing stock.
Computers are
not designer handbags (A market that Apple sometimes seems to aspire to) - they are used to do practical things beyond telling people that you can afford Gucci, and some people
do care whether they can hold a box of kleenex and a phone charger. You don't want your computer platform to be an "exclusive" luxury that only a few can afford - not if you also want widespread software support and compatibility.
That's the model they went for, though. I could ask for higher base-price so that upgrade pricing doesn't need to be this way, but it's a lose-lose.
It seems that people were having the same argument over 8 vs 16GB RAM a year or so back. "8GB is enough for many people, why should we pay more?" - yet (as others were predicting) the new Macs came out with 16GB as standard and no consistent price increase - there comes a point where low-balling specs is false economy, or even where the smaller parts are
more expensive as demand falls. That's possibly one reason why we've seen cases of base Macs only using 1 256GB flash chip that wastes half the bandwidth rather than 2x128GB. Then there are logistical savings from having to make fewer models & using higher volumes of the same chips. I'm pretty sure that Apple could have made 512GB the base storage on new Macs without raising prices -
and still upsold customers to 1TB or 2TB for $200-per-step.
Apple have let their pricing model get broken - they've always gouged for RAM and SSD upgrades (Even in 2017 $3k i7 iMacs with base 8GB RAM and "fusion" drives with a measly 32GB SSD portion were a joke - but at least then 3rd party RAM - and SSD at a push - upgrades were possible). Since then, though, the base RAM specs have only seen a single bump, and their 512/1TB SSD upgrades are still at 2017 prices, when an all-SSD computer was something special). Post M4, they've become
far to reliant on RAM and SSD at 4x markup as the only differentiator between their base/better/best models.