Based on these battery stats, and the fact that 5G is quite new/not as widespread (with the added caveat that we’re barely leaving our homes and WiFi these days), I can see a lot of iPhone X and behind users probably not upgrading. The iPhone 12 has worse battery life than the iPhone 11 when comparing 4G directly. This doesn’t exude a lot of confidence, and the fanboys on here can spin it all they want, but battery life seems to have decreased.
given what I’ve said above, I for one will still be upgrading as I’m going for the 12 mini (and coming from an ancient SE).