Is the 2017 iPhone X obsolete by today's standards?

I applied for a 2017 iPhone X on plan earlier this year and was just wondering if this iPhone is obsolete by today's standards. I know other smartphones have atleast 6 GB of RAM, a fast CPU, bigger screens and updated Bluetooth/Wi-Fi technology. But would this iPhone X and the next gen iPhone X handsets be obsolete by today's standards?

Was this iPhone obsolete even before it was released?

Why would Apple sell an obsolete device for a staggering $1500 AUD?

Obsolete? That depends upon what you need your phone to do. I'm writing this with my iPhone 5c, which I'm very happy with.

The X is the latest from Apple. It is not considered obsolete. They still sell 8s and 8+s from Verizon.
Also obsolete by who's standards? If you are running an older phone, then your phone is obsolete compared to the X (if you are talking Apple phones). The X will be updateable for a while. IOS updates that is.
Whereas the predecessors 5,6,7,8 and older models are not going to be as updateable as the X.

But if you are going by having to have the latest and greatest at all times, then potentially the X is going to be obsolete. As I'm sure Apple will never cease to design and create the next latest and greatest phone.

As well as all the other phone manufacturers.

Also when comparing phones from other manufacturers, it's not necessarily about ram, cpu, and screen. It is about the 'experience'. Apple has it's own unique experience compared to those of an Android base. So you are comparing Apples to oranges…(pun intended) I personally am not an Apple guy. I have a Samsung S9+. I enjoy it. My son loves Apple devices and loves his iPhone 7+. He didn't want to go with the 8 or X.

Not even near that.

Apple makes both the hardware & software so optimisation is better therefore not needing as much RAM, CPU, etc in order to be as good or better than others (as they usually are).

No.

A phone in my opinion is not obsolete until it no longer works on any carrier. Example, all the analog cell phones that were phased out when all the carriers went digital only, and dropped their analog signal, most of those phones do not even allow for 911 calls, as there's no infrastructure to support them.

What I think you mean is any phone that you bought in 2017, behind hardware wise to any phones planned after three older ones were manufactured. To that I say, sure on paper they will be, compared to some phones. But day to day real world use, unless you are using several other phones side by side comparing things like battery life, camera quality, call quality and signal strength within known dead/weak spots in the cities that and interstate driving and rural areas. Everything will for the most part be subjective.