I can confirm from personal experience that the Neo slaps and your perspective is uninformed.
E.g., the iPhone 15, released 3 years ago, doesn't get Apple Intelligence because it has just 6GB of RAM.
I wouldn't buy a device that is already at the very lowest end of supported hardware the day it's released. It could cut the years of meaningful OS upgrades by half or perhaps even by two thirds.
It's uneconomical.
This sounds like a feature to me: Apple should provide a upgrade path that disables AI for older hardware that can't run it, and thus not download the models.