I also wish it was just a phone with much less performance for a smaller price.
I want something durable and repairable, not something fast, Wirth's law is very important to consider when consider software and hardware. I hope they will make such phone, one day, because I am not spending that much money for a phone.
I bought a 150 euro phone and it already lasted 3 years, because even if a phone becomes obsolete, it is still cheaper, per year, to use crappy phones, than to use a durable expensive phone.
If your really care about fairness and the environment, make lightweight hardware and software.