I’ll probably have to compare to others in the store to see if mine is normal. My initial feeling was that it was sharp, but it’s perfectly smooth and uniform around the whole phone and feels the same on the front and back.
If I run my fingers around the back it feels smooth, but holding it naked or rubbing my finger from the frame to the back it almost feels like there is a lip for the frame.
I got an Apple Watch Ultra 2 as well and its bezel seems similar to the phone frame, so I’m wondering if this is just an adjustment to titanium and how they have to put the phone together now.