The iPhone is really the gPhone (Google Phone).
Google is getting ready to buy up a bunch of 700 mhz spectrum. Apple has released the iPhone with a carrier to work out the bugs and get ready for the time (about five years down the road) after Google has built and its free wireless network (ad-supported, natch). By then Apple has millions of iPhone users and makes all subsequent iPhones like the iPod: no carrier and no contract, to use on Google's free network.
What do you think?