For those that say it is a small upgrade from last years I agree. However, I believe now that the iPhone is such a mature product with so many previous generations that this will always be the case.
Early on they had to give you a wow factor as people upgraded every year. Now (lol not on here - an Apple enthusiast site), I think is it split like this:
Apple Fanatics/MacRumours forum:
Every year
Tech Lovers:
Every two years
Everyone else:
Every 3,4 or 5 years/hand me downs from people in above.
Personally I used to be in the annual upgrade, now I am trying (it’s hard lol) to upgrade every 2 years with alternating years for Watch and phone. I feel I have upgraded, but don’t have the wow that those coming from an iPhone X or previous feel. I have a S7 AW and it didn’t even cross my mind to go with an 8.
The watch/phone market is established now so I thing we will always get evolution, along with he occasional revolution.
That said, gone from a IP12P to IP14P and love it!