Consumers want reliable, long lasting products that they don’t have to replace all the time.

This is the thing that I'm genuinely not entirely convinced of. More than anything, I think a lot people want shiny new stuff as cheaply as they can get it, and that most consumers will generally opt for that over a more expensive but more durable alternative, even if that's not what they'll actually tell themselves. "Chinese junk" succeeded because masses of people preferred a cheaper product over a more expensive domestic one. Plenty of people raged against removing headphone jacks, for instance, but ultimately, those phones still sold very well. If there was really a huge demand for phones with headphone jacks, why would Samsung etc. not plop one in there and capture that demand? I would speculate it's because it doesn't actually exist to a super significant degree. Plenty of Android phones had removable batteries for long while, but as they started to go away, you didn't see a huge group of people flock to the phones that kept them. Ultimately, consumers generally showed that they would opt for better waterproofing and slimmer design with a more annoying battery replacement procedure than a bulkier phone with easily removable batteries (though I am intrigued to see if the EU will actually be able to successfully mandate them).

So, while I do agree that consumers do want reliable and long-lasting products, they also want maximally cheap products, and products that feel new and sleek and luxurious. These are contradictory aims, and it seems to me that consumers' revealed preferences are towards novelty and price, not durability, though I'd also say that I think this is shifting somewhat. Each new generation of phones is offering fewer genuine innovations and improvements, and at least in my experience, consumers are noticing more and more that even mid-range phones are perfectly adequate and that any phone can last several years. As I understand, this has been reflected in declining sales over the last several years.