I will be shocked if they actually ship it. The Vision Pro is a terrible product, and as such has been an abject failure. Even at it's absurd price point, the $3,500 iPad for your face has generated about 1 day's worth of Apple's revenue. And in 18 months since its release, there is no successor, no cheaper model, hardly any apps, and hardly any content.
None of which is a surprise at all. Vision Pro stands alone in Apple's lineup as the only piece of objectionable hardware they sell. No one complains about holding a phone in order to use one. No one complains about wearing a watch in order to use one. No one complains about wearing earbuds in order to use them. But absolutely no one wants to wear a heavy, wall-tethered, nausea-inducing, world-isolating headset. No one. It is something that a few tolerate in order to get access to the software. And the software is what it was all about. It is well known that Vision Pro hardware was never meant to be a shipping product. It was built to demo the software. The intended hardware was still years away, and Tim Cook was not willing to wait. The eve of its launch had engineers crying to the press that it shouldn't be released. When else have you ever seen that?
I very much look forward to what Apple will do in the future with spatial computing via normal glasses with real lenses. They can be a game changer product. An everyday product. But the Vision Pro is not that, and can barely even be labeled as a stepping stone. If anything, I worry about the future of spatial as Apple does not double down on failed products.
But you're correct, I incorrectly specified margins instead of markup.