I’m in the same boat. I have a 2019 Mini that’s only really about 6 months old, bought because I needed an iPad and I was concerned that the rumors I saw showed the Mini getting substantially larger in the fall.
Turns out the redesign is smaller overall (same width, 0.01" thicker, but almost 1/3" less in height). And bumps from an A12 to an A15. Since the A14 benchmarks about 50% faster than the A12, this looks like a reasonable upgrade.
Apple would happily give me $225 for my current Mini, which is lower than I want to take. Fortunately they hiked the minimum price of the new model ($399 to $499), so there should be some private-party value still.
That’s the one I’m getting too. With a matching case, just because.
I have to say, I could easily fill 256 GB if I weren’t careful, and 512 would be useful. Lots of podcasts and video downloads, and a rather large library in Logos including their Mobile Ed stuff. I try to keep everything on-device.
But yeah, I’m having a hard time understanding what use cases would go much over that. Unless maybe somebody is actually editing 4K movies on their phone or something.
And let’s not forget the (small subset of) people who walk in, say “what’s the best, top of the line phone I can buy?” and drop the cash for whatever that is. They’re rare, but I used to know a person for whom owning “top of the line” was a very, very big deal.