If it was $599, you would see a lot of comments here how that was just too high and hard to justify, and at $499 it would be a buy.
That said, most buyers are getting a subsidy, or paying monthly so MRSP is pretty irrelevant. So most simply get the size and features they want. I wanted it bad enough to pay $850 for a 128GB with AppleCare and sales tax. I am completely unable to justify that price and just wanted it. Am happy two months later. Bigger screen, faster, better battery life. You can keep the 2 handed full experience of the 12 regular. I had 5 years of it with my 6S.