One of the nurses I work with has a Galaxy Fold she adores, and she’s the furthest thing imaginable from a techie. She just likes how big and readable it makes things. Again I’m not arguing foldable aren’t a compromise, they absolutely are, but they do give you something in return for that compromise.
Big phones aren’t idiot slabs. They’re extremely reasonable choices for what’s become the primary computing device for vast swaths of the population. Small phones didn’t die because of market trends, they died because they simply didn’t get the job done well enough for a big enough group of people. You can argue they’re wrong all you want, but the simple truth is every attempt by every manufacturer to bring back small phones has crashed and burned.
People want big phones. There’s no reason to think even a 16PM is big enough to fill that want, but it is the biggest size that can be reasonably pocketed. The only way around that is foldables. They’re planning bring their own sets of trade-offs, for many it won’t be worth it (personally I can say I’d strongly consider one but I’m not sure I’d make that choice myself), but they absolutely serve a purpose.