This has nothing to do with the hedonic treadmill. The market already priced in a higher guess for iPhone sales growth, and is adjusting downwards to fit the a

This has nothing to do with the hedonic treadmill. The market already priced in a higher guess for iPhone sales growth, and is adjusting downwards to fit the actual numbers. If you want to fit it into the frame of hedonic expectations, the hedonic equivalent would be ordering and paying for a filet mignon and getting an In N' Out Double-Double. Still delicious, but not what you paid for/expected. The hedonic treadmill has no relation to this concept.