And you can't just sync your data why?
Because I had received a new machine since my former uMBP overheated to the point it was getting unusable. Didn't have time to wait for the time machine backup @ 260Gb and went ahead with iTunes thinking Apple knows their stuff.
Didn't think it would swipe the whole thing just to do an OS update. My SE didn't need do and I expected at least the same thing from iPhone. At the very, very least it could've given me a warning. Maybe it was because I hadn't 'authorized' iTunes yet but come on! Guess I was wrong, must've clicked the OK button wrong as well.
Thank you, once again, Apple for 'teaching' me in a rather parental way to sync before doing anything else, bleh!