To me, it feels like the PC market 20+ years ago compared to nowadays. When Moore's Law was still in full effect, your 4 years old PC (or Mac) was a slow piece of junk. Today, a computer from 2018 is perfectly fine for almost every task unless maybe you're a Java developer or film editor. The reason is different, the effect is similar. Let's see what others comment on this, regarding Apple Silicon :)
Sure the screen is bigger and better (but not breathtaking at a reasonable brightness), photos are way better for sure, but the rest, meh.
The battery life is not impressive, the OS is kind of irritating (and all excessively... rounded?), TouchID and FaceID do not work better.
It's OK, it works, but yeah it's hard to get excited with newer models.
No company has introduced anything groundbreaking in the phone industry. However, in the 2010s many features that we have today in smartphones just weren't there.