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Just a few years ago, people in the US would say that same thing you did about a $200 phone. Then the RAZR came along.
Then fruitDevice came along.
Things change.
And if it's just a matter of paying now or later, so be it. However, you often have situations where a carrier requires not only the purchase of a data plan for a subsidized device, but a voice plan of a certain rate (or higher priced, device-specific data plans). If a carrier requires you to get a $59 plan to get the "reduced" price for a phone instead of a $39 plan on a two year contract, that's $480 more than what you needed (if the $39 was enough). $480 is often enough to cover the cost of an unlocked smartphone.
If you have no problem paying almost $500 extra dollars over the course of the contract, go for it. If you were going to get the higher plan anyway, go for it.
Personally, I believe the US has been conditioned to payments to it detriment.
(thus, why the US will be making payments to China for some time now)