$200/mo likely includes equipment repayment plan.

That's how they get you to justify a $1200 phone every two years...by charging you $30/mo for it and a $20/mo promo credit as long as you stay a customer with them. If you switch you gotta pay off the full balance.

Imo that's insane. I've always considered myself a technophile and I don't replace any of my tech on that kind of a schedule, except for my phone...and that's mostly out of wear and tear and not being economically repairable.

But I'm still out of that ERP game. Better to buy outright when there's a good deal from the OEM with a OnePlus or a Pixel. Even better if you can find a $50 eBay phone that's worth a $200-$300 trade-in credit.