you are conflating many different people into one. so here's me: i like apple products. i like HTC's variations on a theme. i was disappointed by the 4S because i like new things, even if only on the outside. (though the 4S has an S on it, like superman, heh)
apple has its reasons for not changing the design and they are sound as ever—evolutionary, not revolutionary. and it makes so much sense for the 2-year upgrade cycle. considering too that apple is trying to make as many devices as possible, the same old design really helps them to that end. i am disappointed. but the product is by no means a disappointment.
(i really wanted an ipod touch 3g with upgraded internals that could go month by month like the ipad and do facetime/skype over wifi/3g)
It wasn't mandatory for an "iPhone 5" to have LTE in the first place. Just because it wouldn't have had LTE ,doesn't mean they couldn't have made an "iPhone 5".
And if it's all about economics, then I guess it makes even more sense to keep the same design for 3, or even 4 years, no? That's probably what would happen if the iPhone had no competition, seeing how even with strong competition from Android, they still don't seem to care about using the same phone over and over again.
What's funny is that when HTC releases a more "refined" design (but still basically the same), the media is all "oh, same old design from HTC". But when Apple does it, "well, they are just refining a work of art!" or "It's the inside that counts!"
Yeah right. Most people buy phones for 3 main reasons:
1) design - and they don't want the same old one over and over again. It's no coincidence the iPhone 3GS was the most disappointing iPhone launch so far, too - until now that is
2) price - people will buy the phone they can afford
3) value - the most bang for the buck