So, you're personally bored with it.
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I've never had an issue with the home button. I've only seen one device with a bad one.
Then you're exceptionally lucky, as are anyone you know with an iPhone.
Firstly, my iPhone 5 home button performs perfectly so the problem may have been resolved.
However, previous iPhones, eesh! I went through 3 iPhone 4's, all replaced no fuss/no begging/no shouting under warranty at the Apple Store. My third developed same fault out of warranty, so I jailbroke purely for Zephyr. I don't treat my phone poorly, I've never damaged any of the three different model iPhones I've had (3G, 4, now jailbroken 5 \o/ ). Via work and friends I know maybe 20 with iPhone 4's or 4S's and it's no exaggeration to say over half complain about the home button and have to have them fixed, replaced, jailbroken or live with it via bunging that ugly accessibility home button on the screen.
So, err, yeah, I think the problem is/was definitely real.
Again, I stress I've had zero problems with my 5's home button, and doubt I ever will now I have Zephyr on there. Much more intuitive than double pressing, and quicker.
As for a redesign, meh. Happy with the 5 but ideally I'd just like a larger screen, maybe 4.5"-4.7". But higher res though, not like that Gruber endorsed mockup (linked below) that just makes text and icons bigger. I see little point in that, I want more screen real estate, not bigger fonts and icons - I like iOS but bigger fonts/icons will look even more toytown on a phone.
http://www.imore.com/more-5-inch-iphone
Edit: and exactly what Premium1 says below, that x million.