They are going to limit it to USB 2.0 speeds so in 3 or 4 years they can declare some new magical advancement and bump it up to full 3.0 speeds.
Apple purposefully limits things so that they have something to announce in the future. They aren't dumb. They know the advancements in smartphones has been starting to slow down. So they meter out the advances over many years in incremental updates to give their customers a reason to upgrade.
You will hear something like this from every reviewer after an Apple event: "The changes were small, but taken together the new insert product name here might be well worth the upgrade price."
I mean who really cares 2023? Who used this port for data transfer later than 2015? I guess for proRAW it makes some sense. But even less with the airDrop later over internet in background. And proRAW even is a iPhone pro feature isn’t it.
Are you stuck with fax v34 speeds because your telecom hasn't upgraded your landline to support the more modern v300 or are you fully covered by your internet equipment instead?