Don't get me wrong; in the long term I see the price of local inference falling as their chips continue to get 15-20% faster every year, and meanwhile the "intelligence per billion parameter" chart is rising. There will be a magic point where they cross, and "good enough" reaches your phone. That's when Apple starts to drink Nvidia's milkshake.
Apple and NVIDIA prices are not going to fall.
Their competitors will. Anyone locked into these two ecosystems are willingly going along with it.