One of the more disturbing things I picked up on yesterday was the overall tone of the keynote. For the first time, I heard people saying "this is just as fast as our competitors." With Jobs, Apple never said anything like that. It was always faster, even if it wasn't true.
My biggest fear, and I know that Jobs was around for the development of this phone, is that Apple becomes complacent. Cook is a numbers guy. The iPhone 4S represented the lowest cost upgrade they could do. They essentially use all the same components and repackage the inside. Sure, they'll make loads off of it and their bottom line will be fine, but in a more competitive mobile market, as a shareholder, I do worry about the future.
Consumers think about stuff like screen size and the like, and it will be a hard sell for people to show them a device that looks the same and expect them to upgrade immediately. Of course, I'm sure it will break records, but still. I hope this isn't the start of something new.