The only radio Im aware of that's less than the M17 ($570US) that has an angle and height adjustable steering wheel is the DX5Pro Spektrum
It wouldn't NEED to cannibalize from the premium radios.
I would imagine Sanwa could make the MT5 have an adjustable wheel for $50 (or more to the point should have included it already for $400). And Futaba most definitely has headroom between the 4series and the 7 series to add some price on and include an adjustable wheel.
Keeping the monochrome and non touch displays would help ensure these radios wouldn't cannibalize the premium handsets.