I was upgrading yearly but after I got the 12 Pro I didn’t really feel a need to upgrade, until this year when my battery life started getting iffy for a full day use, the Face ID sensor stopped working, and I maxed out the storage.
Figured may as well upgrade to a 15 pro max and stick with it for 3 years. The new camera is nice; but not so much so that I’d upgrade only for it.