Should it have changed? Does an iPhone have known pain points not fixed for years and years? Something that makes users migrate to Android in anger?
Safety razor blades did not change a lot either since the time they were invented; the seem to be in a deep local optimum. Maybe the iPhone is in a somehow similar situation.
Yes it should have changed, but I disagree with your metric on measuring how change is required.
By very-rarely revisiting these ~17 year old policies they avoided naturally-increasing their specs to foster and keep-up with more demanding software, and subsequently in the last two generations had to play catch-up and rush to upgrade their entire product line to a higher baseline of memory to support AI and increase their thermal capacities to support their foray into AAA games, leaving billions of active iOS devices as unsupported.