Incorrect fact. I would pay “real iPhone money” (think: $700+) if it got me a new 4” phone. That’s how much I despise larger phones.
Sent from my iPhone SE
Apple released the SE because they wanted to offer a cheaper, true budget iPhone. That was Apple‘s intention behind the SE. Not because of the 4“ size, they just had a lot of 5s parts that they wanted to use.
Today the SE is loved because of it‘s size, yes, not so much because of it’s price. But that was not what Apple had in mind in March 2016, which is why this new SE is based off the iPhone 8 and it's larger than 4" which the SE owners apparently do not want.