Although not many people use the word 'visionary' for business model innovation, I agree it was a crucial element in the iPhone's viability. It's clear the earlier 2005 collaboration with Motorola on the ROKR (aka the "iTunes Phone") is where Apple learned a lot about the broader ecosystem gaps which would need to be addressed for a phone to succeed.
The visionary bit for me was Jobs getting a US phone company to agree to a data plan that made financial sense to potential users.