I can confirm, that Apple my misunderstood the market:
I was eager to buy a new iPhone because I just finished my masters degree and started a new job, had a bit of money and than the SE2 launched. My 5s or SE1 started to age and as an beginner app developer a current phone was important. I was so happy because I could not see my self using one of those bigger phones even though the SE2 was still bigger than my 5s/SE1. A few months later the mini was released and my initial reaction was "OMG this is THE perfect phone, but I just got a new one... i can not afford to buy another one".