It's amazing.
Your anecdotal personal use case has completely negated their general stance.
More seriously, there's literally a "market" for any preference. The big question is always the size.
And there's never a way to know this market size because there's always something muddying the waters.
Apple's attempt is, spec-wise, better than Sony's I think. But that price will muddy the waters.
My friend is a web designer who freelances for large international companies. You've probably know most of the companies he's worked for. He still designs for 640p phones and IIRC 1024x768 laptops.... but the sites will look nice on larger devices and will scale appropriately. And those websites are great.
If developers were all like him, I'd buy an iPhone SE.
But they aren't. It's like my workplace. They hired someone to design a web interface for a database, and it doesn't even work properly a screen that's 1280 pixels wide. In fact, you can't even reduce the window size to fit. You basically need 1440 or wider, or else you're stuck dragging the window around the screen to be able to see all of the window. It's really stupid. Yes, an easy solution is to use a bigger screen, which is what I do, but a decent developer shouldn't being making these types of design mistakes.
It's because of developers like these I will try to like the iPhone 7's 4.7" size. But I have a feeling I still won't like it, but will just have to tolerate it.
tl;dr:
If your mobile website looks OK on a 4.7" phone and not a 4" phone, then your developer is doing it wrong.
However, there are so many developers doing it wrong these days that I'm probably going to throw in the towel and try a 4.7" phone again.