It can be both. Like the whole green bubble vs blue bubble thing in iMessage. More people than you might think look at Apple as the status brand but that doesn't mean they don't also enjoy how well everything works together.
An iPhone isn't a status symbol anymore, if it ever was. I see 12 year olds with them because they still work long after the phone's previous owner grabbed the shiny new one.
Maybe having the newest model the week it comes out confers some status amongst those who can tell the difference. Everyone else just slaps a case on it and no one knows what generation you have.
