Well this is expected for almost all new iterations of the new iphone. If you are expecting major upgrades or differences, upgrade your Iphone once every 3-4 years.

Even iPhone SE also increase price

Might replace my aging Xs while awaiting 15 next year
on 23/9

I think it is an innovation, because coming from a semi conductor background in fabrication and working in research for new materials for chips, Apple is really pushing the envelope in chip design, power, performance and heat dissipation. It is truly remarkable but unfortunately, not something a lay person might see and appreciate.

To be fair, current gen of Iphones are already very capable in terms of innovation and tech. So it is very hard to introduce major upgrades or improvements. That is why upgrades and innovation are slow to come by. It will be hard to introduce something better to an already great product.

Same case with androids. I dont see much improvements on tech and innovation either. That is why I would not be upgrading my phones every year. Maybe once is year 2 - 3 years.