"Popular design"? On the contrary. As an iPhone SE owner, this is exactly the form factor that fans of the iPhone 4/5 series (like me) rejected as being too large.
Yup. If it’s any consolation, consistent rumors have been pointing to a new, smaller size added to the flagship lineup this fall. It will supposedly have a similar footprint to the 5 series, but with the bezel-less screen like the modern models.
https://www.macrumors.com/roundup/iphone-12/
I went from an iPhone 6 to an iPhone SE instead of the 8 over the size.