There is so much time, effort, and physical waste that is generated by slightly redesigning phones every year purely for the sake of making sales (as opposed to meaningful improvement upon the existing design or introduction of a new hardware feature). Think not only of people upgrading for the sake of it, but all of the cases, screen protectors, and other assorted accessories cast in plastic for previous models that are garbage now.
It would be nice if we could just space these things out to 5 years or so now, because that's probably how long it takes for anything to change enough to justify a new model.
Of course when it was new the camera opened quickly. And then Apple made their OS more heavy weight every year until my phone slowed to a crawl.
And faster phones are nice, but I think it is worth considering how valuable that really is to us as users and a society, especially if the process involves making loads and loads of ewaste and consuming tons of new resources, and all the emissions their mining and transport involves, when we could simply keep our software slim and our old devices functional.
And the big companies will never do this. Do we need to force them to allow open software to run on these devices, so that clean builds can be patched and maintained when the company over bloats them or abandons them?
And in fact installing the first big OS update was one of the key points on the Nexus 7 that showcased its incredibly fragile storage. So we've definitely seen this happen in the past specifically with OS updates being the straw that killed the camel's back in flash storage performance.
I've experienced it on devices before as well. Play around flashing different ROMs on Android, eventually each flash keeps getting a little slower and a little slower, and suddenly just copying files directly off USB gets incredibly slow and the device becomes nearly unusable. I've seen it happen on a few different devices.