Its partially user appreciation. I certainly don't wait in line for iPhones, because I just don't care to. However, the bolded in your post, 10 years ago where the iPhone was and is today, it's certainly more technologically advanced and powerful than they have ever been before. I don't think there's much of a comparison in the sense of that much of a time span with today's iPhones and how they have changed.
I never would have thought 10 years ago that I would be able to unlock my phone with my face, or Augmented reality is something that's starting to evolve, or how the cameras are so good, but they killed the point and shoot camera market. Everybody has have an appreciations for every feature, Those are just a few comparisons of where the iPhone has transitioned from 10 years.