It’s called fatigue. Nobody (outside of phone supernerds) is excited by this stuff anymore. It’s a phone. It opens apps. Woopty doo.
Switch to a 2-year cycle, Apple.
I argue that you still need more frequent upgrades to keep up with the technology. B14 and B71 for this year. Which is an issue with selling last year's model on carriers like T-Mobile this year.
My main phone is on ATT, so I can get by with my old X. I don't know whether lacking B14 will affect me, but hopefully if ATT puts B14 on a tower, they will still put supported bands on the tower.
For Verizon, my backup phone, the 7+, is still perfectly usable.
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OP, I think you forgot to mention the size factor. I recall seeing posts here and other places about people complaining that the original X was too big.
I'm happy with the size of the X, but part of that is after a year with the 7+, I needed something smaller. I'm so used to the size now that it would be an adjustment to go to a smaller phone again.