I am probably going to trade in an old Pixel 3 (64GB) that I had sitting in a drawer. They will give $200 trade-in for it for a Pixel 8 or Pixel 8 Pro. Only $30 trade-in for the other phones they sell.
My hot take is that the vast majority of Android users are not specifically looking for an Android; they just want "a phone." There's a minority of hardcore Android fans who are committed to specific models like the Samsung S23 or Pixel. In contrast, there are many people specifically want an iPhone, whether it's for iMessage, the ecosystem, or even just for the status symbol. This seems to hold a lot more value.