The OP has a point. Everyone is talking about the X and later, which have larger screens, like the Plus models, but take less space than the Plus size models. And, perhaps it’s not much larger than a 4.7” iPhone, but, it is a bit larger and definitely heavier.
Eventually Apple will make an iPhone that is smaller than the 6-8 series, but slightly or somewhat larger screen. if it’s the 12, it could be 5 months, or, more likely, it could be delayed due to Apple not being able to develop prototypes the way they usually do right now.
I’ve had the 6, 6s, 7, 7+ and 8. I have to say the 7 was the most impressive...removing the headphone jack allowed them to shift the weight around in such a way as to not only make it lighter than the 6s, but also feels more balanced in the hand. The screen also has better color and brighter than the 6/6s. IP67 water resistance is the result from removing the headphone jack. And they added stereo sound from the speakers. ...the glass back 8 or 2020 SE are slightly heavier, but if you get the new SE you’re going to get something much faster that has better connectivity: more LTE channels, WiFi 6, BT5, it takes better pictures. If that’s not enough for you, then wait for the next iPhone....