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I have a Z1 and love it. I think it is a great phone, the best in its class.
However, I don't see the constant need for small incremental upgrades, and I will have this one until it dies of old age or by the hand of its enemies (my kids).
I certainly don't care for 4K or a megapixel more or less.

But when I do buy a new one, it probably will not be Sony. It definitely won't be Apple or Samsung. Today you can get a cheap Chinese clone for a quarter of the price. Those might be a bit worse, but as long as they run simple utility apps (banking, parking, youtube...) they are good enough. My wife just got one for €100 and it is definitely acceptable and fully functional.