I have a thread asking about upgrading from 12 Pro. I just did a 3-phone comparison on Apple's site - 12 Pro, 14 Pro, 14.
Literally the only significant differences are the camera upgrades, the chip, and the 14 Pro having Dynamic Island.
It's not enough for me, and the 12 Pro is still perfectly fine so I'm going to skip the 14 for now. If the 12 starts to misbehave in the near future then I'll upgrade, but, as with the 13 before it, I see nothing in this new release to justify upgrading when my current phone works perfectly well.
I think we have reached peak smartphone, and the yearly cycles are harder to justify.
The only release that genuinely excited me this time is AirPod Pro 2. I'll get those soon.
The Watch Ultra is pretty cool but the battery life is still pathetic. Even if the 60 hours ever arrives (with low-power mode activated), that's still half the life of even the worst Garmin. I like the features on the Ultra but I took my Apple Watch off earlier this year and don't miss it one little bit.