Yes, but you don't exactly feel the total cost. You only feel the reduced price. For example, my sister just recontracted to get an iPhone 8. If she didn't recontract, she'll be paying 35USD monthly even if she doesn't get a new phone. Our carrier is asking her for about 350USD to be paid off in 24mos on top of her contract for the iPhone 8. So basically, her pockets only feel an additional 350USD cost, and not a full 700USD for getting an iPhone8.
This for me is the only reason I'm getting flagship phones, because I only pay half to my carrier of the phone's asking price unlocked. And since I'm in Asia, the Samsung units are dual sim and the second sim is unlocked. So basically I don't have any real reason to just buy outright anymore. It's cheaper to stay with a carrier. If people asked me to pay full price for any flagship phone now, I'd rather not and go for a mid ranger.