That’s not a brand new folding phone. Those start at $1900 MSRP from what I see. However, you can get them a few hundred cheaper. Some of them cost even more than Apple.
People have been saying “Oh my God, who would pay $600 for a phone“ for 20 years. Clearly there are such people.
Most people don't actually realize they're paying $$$$ for their phone, as they get a phone with their mobile plan and they pay some monthly small sum for 24 months that lets them forget they'd never be able to afford it otherwise.