I get your point. That's also why I don't mind paying top dollar for a top-of-the-line phone that will last me four years. I'll probably use it more than any other device I own. I just don't get why people upgrade annually anymore aside from the status symbol/accessory aspect.Considering it's a device you have on you everyday, 365 days a year, that you use constantly for communicating, photography, consuming media and many other features, I don't think its so crazy to upgrade it annually if you can afford it and are recycling your old device properly.
The leaps were huge in the "early" days of smartphones; not so much in recent years, atleast that's what I feel when looking at past flagships. Though this year atleast brings higher screen-to-body ratios which is very nice.