Coming from a 13 pro max, it is a good update, but not a necessary one. I like the dynamic island more than I thought. It is not that intrusive and it is very useful. Its only sad that it don't work when on landscape mode. I also really like the action button, again, very useful to turn on Do not disturb quickly when I need. I also find the screen noticeably tailer, but not larger. I especially notice it when compared my wallpapers with my 13 PM side to side, but in apps themselves, there's not really a perceptible difference. The phone feels a little more responsive and quicker. The 2 extra GB of RAM seems to help when many apps are open including Safari tabs.
The phone seems to get warmer more easily though. I'll give it some days and it is probably because it does a lot of things in the background with my restored back up, but I lose around 30% of battery life relatively quickly. I hope its better than my 13 PM in that regard.
The camera button is awkward and not necessary at all. It's not intuitive, have to search for it and it kinda hard to press. It will not be useful to me at all. I like always on display, but I fear it affect battery life in the long run. I don't understand the setting to remove the wallpaper because when I do that, even the clock disappear when the phone is in standby.
The phone itself feel great in the hands. A little but noticeably lighter, but not by much. More comfortable in the hands compared to my 13 PM. Overall, for 13 PM user it is a nice upgrade for the things they add on the 14 and 15 series, but it's not a necessary one if you can wait. If I had a 14 or 15 PM I wouldn't consider an upgrade at all.