Yeah, that's why all those 4"ers are selling like crazy. You'd be surprise what a 15% increase in size will do to make web pages much more enjoyable to read. You're assuming everyone has the eyes of a 20 year old.
So you like reading on a screen that has lower resolution but is larger? The iPhone 4 has the best screen on the market to read on, because of the retina display.
The reason all those 4 inch phones are selling so well is because almost all Android phones are 4 inches and up now.