Apple, iPhone and WalMart

The Freakonomics blog wonders about Apple’s decision to sell its iPhone at WalMart for only $99.

Will the iPhone loose its “cool” factor by being sold at WalMart?  Will other iPhone users be mad that they paid $300+ earlier and now can get them at WalMart for $99?
It’s a big gamble, but I think it will pay off.  Apple is clearly trying to make the iPhone as ubiqitious as the iPod.  It will be interesting to see if it works out.