Yeah, especially considering most people already do this in some fashion but through their carriers (at least in the US) w/ carrier financing + those extra $10/month "upgrade anytime" programs and they end up paying more than what leasing from Apple will work out to.

Especially if you're someone who upgrades every year. 12 month option on a 17PM works out to ~$599 for the year vs. $1199 each year. $599 is roughly what you'd pay for each years new model assuming you trade in your previous gen each time, so at worst it's even with what an annual upgrader was paying already, at best you might make out a little better (assuming you are just doing trade-ins and not private sale).

There's no interest or fees, and you get to buy it out at the end if you want to own it, and the lease price is the same as the retail price, I see no downside.