Who exactly is the target market? Millionaires?

As an engineer in a high cost of living location, you can buy this phone and still save some money in the same month.

However, maybe you can't buy a house there. For that you'd have to be a millionaire.

But people like me cannot be the target market of Apple because that would be a very limited number of customers. Also even if I could afford it, I don’t see any use case for it so why would I even buy it?

Pretty sure Apple and other manufacturers do market research before pouring tons of resources into it.

I guess the time would tell. I’m pretty sure they did market research before the Apple Vision Pro and we all saw how it turned out