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I think a lot of that has been driven by the fact that your new phone is faster _and_ thinner. If it wasn't both, I have my doubts that people would always pick the thinner option. The large screen android options of recent years show that size isn't a trump for everyone.

Not to be pedantic but there's actually a fairly recent example of consumers choosing style over substance: the motorola RAZR.

Just saying...

That's why I spent a ton of money on bellroy wallet. I've got the slimmest wallet in the office!

I've got a TGT for $13, it's a band of elastic with a layer of leather stitched to it. It's that slim I often think I've lost it, until I put my hand in my pocket.

We've got a winner - best solution to the "too many cards in the wallet". [1]

[1] http://www.tightstore.com/

Compare the time a phone spends in an owner's hand vs the time a wallet does. Those that fancy the same tactile experience from their wallets usually go for money clips, or single pocket wallets.