Yes, I could have been more clear about meaning “current generation”. The implication being the phones that will have a long life of support and relevance. When the SE came out it was using Apple’s latest iPhone processor. You can still buy a new SE but it will be deprecated by Apple and run newer software for a lot fewer years than the current-gen X phones. Likewise a couple years from now when the 7 and 8 are out of software support the only options will be large phones if Apple doesn’t reintroduce a smaller phone.

I interpreted "current" to mean what is currently available. To me "last generation" would be "latest" phones.

English is a messy language.