That's also what I buy with Apple now. When I was using Android I'd buy a cheap "Moto G" for maybe $150 brand new. Never understood dropping a grand or more on a mobile phone.
I'm glad to hear I'm not the only one who thinks smartphone prices are just absolutely crazypants right now. I can't envision paying more for a phone than I would for a (gently used) workstation-class laptop.
Over decades of buying Android devices, I have yet to pay more than $300 for one. The one I'm using was actually free in exchange for buying a year of T-Mobile prepaid credits. No, it never was the fastest thing on the planet but it makes calls and runs the apps I want.
I keep my phone until the security updates stop. I buy top of the line phones because cheaper one suck. I tried a cheap phone and it used to lock up all the time. These phones are crappier than my obsolete top of the line phone. There has got to be a middle ground between 1K flagship phones and cheap sub-$200 phones, but I swear I can't find it.
I just keep buying phones with way more features than I desire just so that having too many apps open at once or going to the wrong Javascript laden web page doesn't slow my phone to a crawl. I just tell myself that at least I only replace my phone every 5 to 7 years. If it wasn't for work, I'd keep them longer, but the OS has to be patched for work stuff to be on it.
The only reason why I've decided to pay 500+ (for the first time in my life) for a flagship device was for a better camera and storage, as I wanted to have good quality photos of my kids.
That said, I will keep on replacing the battery until the circuit board itself turns into ash
Also using Moto G-series phones for a decade or so now. Seems I have more junk (gambling apps, linked in, etc.) to scrub off them each time though.
I could see myself splashing out on a more expensive phone if it were less locked down - so probably never. However I don't play games and as a Gen-Xer my laptop is where the rest of my digital life lives; it makes sense that those for whom the phone is their primary device would prioritise it more (especially with somewhat predatory financing).
Cameras of flagships are still significantly better than a $150 Moto G. If you are using a smartphone in place of a camera and like good-quality photos, it's worth the money. That said, flagships can last many years as well.
I update pretty frequently, but all the older devices get used by family members, etc.