It WAS too expensive for what it was. The 11 was 6.1” and $699. Then they go and make a SMALLER phone in the 12 mini for $699, which had terrible battery life according to ALL the reviews: of COURSE it won’t sell well.
For the two cameras, smaller screen, and cheaper aluminum and non-premium colors, it should have been $649 (or even better $599) and the 12 should have been $749 (or $699).
The damage was done with the 12 mini, and I doubt most of the public were not swayed with the 13 mini’s better all around improvements in reviews and so sales continued to be disappointing.
Had the 12mini came out with stainless steel sides, and at least LOOKED like a Pro phone, it would have sold so many more for $699, because it would have looked like a premium Apple best product. But Apple failed to attract the Apple small phone faithful 100%, and they failed to attract the general public with a small device that was priced so high at $699 with a smaller screen than the 11, which you could get for $599.