> flip phone in 2008
That's a great analogy. In 2008 iPhones were fabulously expensive ($700 doesn't seem so bad, but remember that $700 was the contract-locked subsidized price, and that phone didn't have an app store), and it still wasn't certain whether iPhone would beat Blackberry. The rich bought an iPhone or Blackberry, but average Joe's were best off limping along with their old flip phone an extra year, and if they couldn't, buying the cheapest thing they could to hold them over.
And this applies even more in early 2022. All cars, new or used, EV or ICE are stupidly expensive right now. In 12 months time, the used car market should have settled, Teslas should no longer be supply constrained and may have more reasonable prices, and some really nice vehicles like the Hyundia/Kia Ioniq5/EV6 should be widely available. So this is the year to repair your beater rather than replacing it, IMO.
And remember that it's still somewhat environmentally responsible buying a used ICE car. reuse/reduce/recycle is the mantra, and that first R still has meaning.