If your product is too good, in the long run you will lose sales. The only way to get more sales is to use visually features in the new phones and don't make them available to the old ones. New features shouldn't be available in old phones. Updates can be available for old phones but not features.
It would help if you were more specific. Which features specifically should be removed from older iPhones? (according to you). iOS is already very simple, esp. compared to Android. Can you cite some specific examples? The iPhone 7 is still in the current line up, mind you. Everything iP7 and up are models that can be purchased new in a box from Apple (aside from the X). They are wise keeping older phones in the line up for those that cannot afford to spend 1k+ for a phone (or don't want to), aside from the XR which is hardly a budget phone either (it's just more affordable). One of the "features" or justifications for many of us sticking with Apple is the OS update support.
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