I think most of the reduction in price has already taken effect -there is always a switch to the new model, so it’s almost factored into the asking price.
im sure the camera is great on the new model, but I can’t see the point in changing from my XS, which I shouldn’t have bought as I already had/have an X which was/is more than good enough for anything I’ll be using it for in the next few years.
Ive also still got a 7 and I think they are a great phone.