A new camera arrangement wouldn't make the phone more exciting for most, its on the back for starters. OLED screen is a much more noticeable upgrade for many, as are the squared sides - people have been crying out for that to return for years on forums like this.
Evolution is often better than revolution, take the Porsche 911 as a good example, and sometimes things can seem boring when they are slow to change, but that shouldn't mean it's a bad thing when they work as well as they do and for Apple, are as successful as they are in sales figures.
That notch houses the best security on any smartphone. It's not just a camera and a speaker grill. There's a lot more to it then simply moving it behind the screen or shrinking it all down - some things cannot be done in the time they have to produce the new devices, possible R&D time constraints due to COVID etc. Phones are not a one year rolling project, different teams will be working on tech and ideas for the iPhone 14,15 and beyond right now. Apple also had issues acquiring screens from suppliers, so had to opt for more expensive Samsung ones for the regular 12 and 12 Mini which would put build costs up (probably considerably to them compared to the ones they rejected and had expected).