Yes, the OP is right - NOT because it looks the same, though, but because it wasn't made to be its own product. It was made to be a transitional testbed for new technologies that they want to test out before making them they way they intended - and we'll never see these again.
Let's look at what they added:
New Non-Click Home Button: A compromised half-attempt at seeing if they can make a virtual home button under the screen next year. Looks like they can, so be prepared for this year's design to be the odd, short-lived middle-child of home buttons.
Removal of the Audio Jack: A kick-in-the-pants warning to the headphone industry, this new concept even beat Apple's own wireless earbuds to the market by a few months. This is not a feature for the 2016 iPhone. It's actually an attempt to make sure that this year's iPhone is introduced into a robust wireless headphones market. 2017 iPhone buyers thank you for your sacrifice, 2016 buyers.
Sort-of Water Resistant: They're slowly getting themselves used to the day when they can claim full water resistance. They're curious to see how many of these come back to the Genius Bar before they make bolder claims. Another test that 7 owners get to be the guinea pigs for.
Dual Camera: Have fun, Plus owners, while we figure out how to shrink it for everyone else next year.
Dual Speakers: This one I like. I'll give them credit here.
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The OP is right, there has never been an iPhone like this before. Usually they get incremental improvements that you expect to be incrementally improved again the following year. But not this time. But I strongly suspect that the iPhone 7 will be remembered as the "iPad 3 of Phones."