I don’t doubt this is what people think. But it does seem a little odd when older, still supported iPhones can be bought for almost nothing.
Why do you think Apple being out new devices that are 99% identical so regularly and yet people still fawn over them? It's a new chance to show off your disposable wealth to other people who filled the hole where their personality should be with a wallet.
but a 7 is £100 and still a solid phone that gets updates