I think that people need to come to terms with the fact that smartphone discussion is no longer being between iPhone and android, but iPhone and older iPhone models. The people who want iPhones will get iPhones. In this sense, the greatest competition the latest iPhone faces aren't flagship models from other competing brands such as Samsung or Oneplus, but the older models being "good enough" that users don't feel compelled to upgrade. When Apple claims that their newest iPhones every year are the "best iPhones shipped", this is no idle boast, and it also highlights the fact that you can only improve technology by so much on a year-to-year basis.
Which isn't a huge an issue as some make it out to be since most people aren't upgrading their phones on an annual basis anyways.
Thanks to the way they have been positioned, the iPhone 11 doesn’t come off as a stripped-down version of the iPhone 11 Pro. Instead, it’s the other way around. There is the iPhone 11 experience and then additional features were added to the iPhone 11 Pro. Apple appears to have done well from the point of view of adding differentiation to the “Pro” models without watering down the non-pro flagship, and has definitely learned a thing or two from the iPhone 5C and SE.
As for innovation, the new iPhones sport new finishes, better screens, longer battery life and better cameras. These are meaningful improvements that will benefit any user, as compared to Samsung’s definition of innovation – be the first to do something for the sake of being first, and which I have zero interest in being a part of.
In all, Apple has made the right calls and compromised in the right areas to preserve the end user experience, and I believe the iPhone 11 will do quite well, sales-wise, and most deservedly so.