"well launch day was over 30 days ago."
Correct.
"so despite it being in the exact same sealed condition as it was on Apple's shelves, its no longer returnable?"
Correct. The return policy is based on time since purchase, not the condition of the box, much like the return policy for most other products on the market.
"Doesn't it make sense that that return policy doesn't necessarily apply to untouched products the same way it applies to USED 30 day old products?"
Yes. It is no different than most products. The return policy is based on number of days since purchase, not how pristine the box is.