LEASE an iPhone and it'll be an iPhone XR
This is the stupidest thing I've ever seen. First this is still the retail price. Second they are taking advantage of the lucrative aftermarket. They make no mention of warranty or replacement if it breaks and we all know how fragile the screen is.
You would be better off buying a Motorola for $200-300. Keeping it for 2-3 years and then either trading it in or putting it in the drawer in case the new one breaks.
Just keep in mind that $1000 goes a long way whether it's rent, car loan, food, or a real computer. Personally I'd prefer to have an extra computer or even a better display.