No. That’s not what happened. 12mini sold below expectations, and 13mini sold even worse. The latter maybe because of what you describe.They will release a mini eventually. They like to starve mini users so that we all jump on an order together and see it as a major upgrade we can’t resist. Mini users are minimalistic people. We don’t use the phone as a consumption device most of our day. That’s what a big screen is for. What happened most likely was 12 mini was a hot seller and then the 13 mini wasn’t as the upgrade was minimal. Mini users won’t upgrade annually.
That being said, I fully agree that a Mini doesn’t make sense every year, but I would love if they’d bring one every 4-5 years. It would be perfect.