It’s the IE effect in more ways than one. Apple makes money from apps, and by having a monopoly on which app store you can use. Therefore it’s in their interest to nerf the browser as much as they can get away with it, and why they force third party browsers to use the Safari rendering engine under the hood.
That’s only cheap if you don’t consider how long it will survive and the replacement/repair cost. A slab phone with no moving parts will last much longer than a foldable making the $/year cost much lower.