There is always the segment who will be upgrading old equipment, like me, who don't fall into the cannibalizing category. My Droid HD is getting old and I don't like the quirks that Android has. When I purchased it I was also looking at an iPhone and the Note so I may just buy the new, big iPhone this time.
Especially since Android became buggered with a battery draining bug in KitKat with no firm eta for a fix.