Other than your carrier give it for free or cheap, I don’t really see the reason why should you buy new phone. I’ve been using Redmi Note 9 for past 3 years and recently got my had on Poco F5. I don’t see the point of my ‘upgrade’. I sold it and come back to my Note 9. Gaming? Most of them are p2w or microtransaction garbage or just gimped version of its PC/Console counterpart. I mean, $400 still get you PS4, TV and Switch if you don’t mind buying used. At least here where I live. Storage? Dude, newer phone wont even let you have SD Card. Features? Well, all I see is newer phones take more features than it adds. Headphone jack, more ads, and repairability are to name a few. Battery? Just replace them. However, my Note 9 still get through day with one 80% charge in the dawn. Which takes 1 hour.
I am genuinely curious why newer phone always selling like hot cakes. Since there’s virtually no difference between 4gb of RAM and 12gb of RAM, or 12mp camera and 100mp camera on phone.
Your carries never gives it to you cheap. At best they sell you it at cost. More likely they sell it to you at MSRP. the cost is wrapped up in your monthly, and they hope people are too stupid or lazy to notice.
Never say never. After buying my OnePlus 9 pro, my carrier transferred the money to me instead of from me. Realizing the mistake, they immediately transfered it back again, but that only resulted in a 0 and thus I never actually paid for the phone :)
In most other cases you are right though.