It’s called price elasticity. There is a point when consumers say no and make other choices. Even with essentials like food, one can switch from a national brand to a store brand. You are correct that many companies push the pricing limits to maintain or grow profits. I have heard CEOs brag about “pricing power” when inflation was running north of 9%. Fucking assholes! At the end of the day, consumers can impact prices by refusing to buy, but Apple still sells lots of iPhones and other stuff, people still subscribe to multiple streaming services, and a general lack of household fiscal discipline is still highly prevalent.