Should Apple Make Cheaper Products?

No. Those that think Apple should come out with a cheap or budget product don't understand who they are. It would be like saying Ferrari or McLaren should come out with a cheaper sports cars so more people could have them. That's missing the point of what they are. Apple has always been at the premium segment of the market. Apple is about making the best product, so they can charge a premium, make the most profits, so they can continue to spend lots of R&D to continue making the best product that they can. They are not about market share. Does Ferrari ever look at their market share? Ferrari only sells ~7,000 cars year. Yet those ~7,000 cars earn Fiat more than the other 4.2 million cars COMBINED (€2.3B Euros out of €3.8B).

Apple is a similar though less extreme situation. Although Samsung sells twice as many phones as Apple, they make half the profit.

Profitability is extremely important to any business. It allows a business to invest in risky and speculative R&D to create better products, pay their employees more, return capital to their investors so they can invest in other ventures, etc. It is the fuel that powers human progress, both as an individual and as a company.