No it would not be foolish, but it might not be the right time just yet.
The iPad was introduced at an astoundingly low price and was a big success.
The iPhone X and XS were too expensive;
....so Apple dropped the price for the iPhone 11. That was a big success and Apple's share price shot up accordingly.
Lowering prices would not make Apple's products commodities, as no-one else is able to offer what Apple offers.
But yes, Apple is likely to increase manufacturing capacity before it lowers prices further.
Thanks for reading and offering your thoughts! :-)