As long as the two phones are equal in specs, yes, that's fine. The iPad Air and mini give people a choice based on the size of the screen, which unless I've missed a thread or two, no one has complained about....
You missed the most crucial threads, the rumors of an iPad Mini BEFORE there was an iPad Mini. Since Apple- particularly Steve Jobs- was on record as identifying the iPad 9.7" screen as
the minimum size for a tablet (link in post #62 if you need to see it for yourself), there was overwhelming bashes for the early iPad mini rumors. A few would post how they wanted a mini, only to be countered by the bulk who towed the Apple line…
Then Apple rolled it out and thus officially endorsed the Mini. "Shut up and take my money", "best iPad ever", etc.
The lesson of the story: whatever Apple rolls out as an iPhone 6 will swing this pre-launch sentiment to mostly endorse it (and resume bashing any other phones that differ much from it). If they only rolled out a 5.5", this crowd would "shut up and take my money". If they only roll out a 4", "shut up and take my money". If they roll out 2 or 3 sizes, "shut up and take my money" along with a "which one should I buy?" threads. All this "need new pants pockets" and "one handed use" will just evaporate like it always does when rumor becomes (officially endorsed) reality and Apple shifts it's official stance on some topic like perfect screen size.
3.5" was once the one and only perfect size for a phone screen and "4"-5" were skateboards" (see same link). "We" bashed everything bigger than 3.5" to death. When rumors of a 4" from Apple came up, it was a ton of "abomination", "fragmentation", blah-blah-blah. Then the rumors piled up and the passionate bashes started fading into "wait and see" and "it's kind of growing on me". Then reality and "shut up and take my money". Then anything over 4" was the "abomination" and now that's fading such that it seems like most of that crowd is now pretty accepting of the 4.7" as the coming new "perfect" while the 5.5" is probably going to be a new "abomination"… unless Apple rolls that out too.
Personally? While I'm only interested in one size for me, I hope they roll out all 3 sizes because not everybody has my hand size. I also have a perfect pant size, shirt size, shoe size too but I don't wish that the pant/shirt/shoe stores would get rid of all the sizes not "perfect" for me and only carry the sizes I deem ideal.
If I want to post with my Apple-as-a-business hat on, rolling out BOTH sizes of bigger screens pretty much mitigates much reasoning for buying bigger-screen Android phones for all who prefer iOS but really want bigger screens. Those 2 rumored sizes in particular seem like they could soak up all the screen size desires from >4" to 6+". From a "die Samsung die" perspective, roll out only 4.7" and it's leaving the >5" market to Samsung, etc. Why do that? Fill that hole now (too) and there's little reason left for the OS indifferent to buy Samsung, etc other than maybe price.
And from a stockholder perspective, more than one choice means winning more buyers rather than turning them away to the competition, so revenues & profits should rise.
Choices yield a win for everyone. I can't ever grasp how some of "us" can wish away sizes other than they one we pre-perceive is the ONE for ourselves. What's it even matter to us as individuals if Apple also rolls out some other-size screens? If my "perfect" is 4.7" and Apple delivers that, why should I give a hoot if others can buy a new 4" or a new 5.5"?