Most people don't update every year, and when you start looking at replacing a 2+ year phone the camera updates alone are usually well worth it. The Pro is adding 3d video capture for the upcoming vision pro.

With that said, the smart phone of today is a solved problem. The industry has converged on a slab of glass form factor, and while it plays at the edges with foldable or flip phone styles they really aren't that popular. Most technology advances are evolutionary, to expect something else is unrealistic.

IMO, the most interesting thing from Apples presentation was the focus on gestures for the watch. When will the Vision Pro get small enough or the watch gain capability to project a screen is the question, because then we will have moved beyond the phone form factor.