Yeah, but so many things about the Note 4 are worse than the Note 7 (even based on just the rumors).
It's not "so many things". It is "literally everything".
The Note 7 is better in the following categories: Processor, RAM, FPS, Security, Design, Software, Software Support, Screen, Battery Size, Battery Life (inferred because Note 5 was already better and Note 7 is more hardware efficient + 16% larger battery), Storage Quantity, Storage Speed, Camera, Charging Speed, Charging Technology
The Note 4 is better in the following categories:
The closest 2016 phone I could find to match up spec to spec with the Note 4 is the Moto G4 Plus 64/4. Which is $299 MSRP, easy to get for cheaper.
And in that comparison, the Moto G4 Plus 64/4 is better in the following categories: RAM, FPS, Security, Software, Software Support, Battery Life, Storage Quantity, Camera, Charging Speed, Charging Technology
The Note 4 is better than the Moto G4 Plus 64/4 is better in the foloowing categories: Processor (maybe), Screen (probably, definitely wins on resolution, not sure about actual quality), Battery Size