In my point of view, the bummer is non LTPO display, preventing going down to 1hz which can save some battery if you use your phone for reading.
Among mainstream users, people just don't care and this isn't remotely the differentiator people seem to hold it as. Similar to the micro bezel fetish, these are spec-chaser points that certain manufacturers convince people are must haves. But they really aren't.
I agree that most users don't consciously care, but I think its definitely possible that it influences how fast the phone feels and could influence purchases if you are testing them side-by-side in a store. There is some anecdotal evidence to that in the fact that Google does the extremely scummy thing of locking their non-pro Pixels to 60Hz when in demo mode regardless of the refresh rate setting chosen in the OS.
Con(?): 60 Hz
And the price hike again shows that Apple is the master of the "for just a few hundred dollars more, you can get...“ upsell to bigger iPhones.