That is generally true. Any one year model change does not offer enough to justify an upgrade unless you happen to need a specific feature or if you just don’t mind spending a lot of money just to have the latest.
At one time, when smartphones were a new thing, there were a lot of big improvements in each year, but as the lines have matured, there is less opportunity for dramatic changes. More and more people are waiting 2, 3, 4, or more years between purchases. In doing so, they benefit from the cumulative improvements all at once.