The fundamental truth is that companies would not make a bunch of new phones if there were not people that wanted to buy them, for one reason or another.
And it's not as if the smartphone market isn't littered with failed products and ideas. Marketing can do a lot, but it's not able to generate demand for a product that consumers simply do not want. You might remember the pushes for 3D displays, WiMAX, modular phones, styluses, the recent push for foldable devices, etc etc. These failed because consumers simply did not want them. Motorola, HTC, LG, etc failed because consumer did not want their products and they were generally inferior.
Again, you do not need to buy a new phone every year. There are people who do voluntarily want to do that though, and so companies will provide products to meet that desire. I simply do not understand this compulsion to insert yourself into a blatantly voluntary transaction, with the customer wanting a new phone, the company providing one, and you stating "Actually, you're being exploited."
This meme comes to mind.