A pocketable mini iPad mini that also has full iPhone phone functionality when one needs to take or make a call IS the concept
a very, very appealing concept for some (like me). Now, instead of having a "too small"-screened iPhone AND a bigger-screened iPad, one device can cover both needs
and fit in a pocket.
Is it for everyone? No. But for those that have long wanted an even smaller iPad and those who have always wanted an even bigger-screened iPhone, these new options are very desirable.
And I get this sentiment...
but the question is will you buy an iPhone 6 anyway? If you do, then Apple still gets the money it wanted to make from you, so the decision from a business standpoint works. Only if many refuse to adopt the 6 and/or switch to competitor (Android) phones at <= 4" does Apple get some sense of making a "mistake" and thus get some buyer pressure to correct that "mistake".
To whine/gripe but then buy anyway is no different than us bigger-screen people whining/griping about 4" screens in past years, buying iPhones anyway and just dealing with it. This is the "just deal with it" concept working the other way. As it was then, it is now: all the whining/griping in the world isn't going to yield a 4" iPhone 6. All that resurrects the 4" screen iPhone is enough people not buying the 6 that Apple feels the pain in the sales volume. If they do, they'll adjust.