To be honest, every year some folks say that the new Note is not a huge upgrade over the last Note. They'll say that next year, too. It's certainly not for those who don't find much utility in the new features.
But folks who have the S20 and were expecting a huge upgrade in the Note20... C'mon - that stopped with the Note 5 or Note 8 when the S and the Note series became more and more alike. The anticipation wouldn't be for people to upgrade their phone every 6 months. That's why it always amazed me that people would get the Note 20 and then be ready to move on to the iPhone 12, or S21.
A lot of Note enthusiasts, like me, however, do this ritual every year and seeing that I am on my phone more than my desktop computer - I'm always looking forward to the next big thing in the device that I use the most in my life.