Market saturated, no new must-have function, and prices are crazy
That, I believe, sums up the situation. The phone I have does what I want, I will keep it as long as it works.
Just like the PC market, phone makers have been surfing the wave of improving technology, but that wave has crested and is now retreating from the beach. "Improvements" are now confined to a new notch or not, the jack or not, and the only thing that seems to be coming is the insanity that is wireless charging.