This isn't a 3 year contract. This is a promo. Read the fine print and do the math to determine if the deal is right for you. Not all customers are the same.
Here I ask. If you are against doing an offer with a monthly credit, how much are you paying for your new phone today? I doubt you are getting it with a $1000 discount. In my case, the best offer I have found is $460 for my 11Pro. That means if I traded it in and paid cash on the difference, the iPhone 13 Pro would cost me $539 today.
But since I accepted the $1000 credit over 3 years, I break even at 20 months when AT&T has given me $555 in credits for that phone.
Once I hit 20 months or more, I come out ahead... even if I choose to forfeit the remaining credits and buy a new phone. Even if that means my iPhone 13 wasn't really "free."
I might choose to splurge when iPhone 15 comes out, or I might choose to stay with my 13pro for all 36 months, ending with a "free" phone. My choice. Either way, I already come out ahead at 20 months compared to what is offered today in any other trade-in scenario. I'll take the bet that I will be satisfied with my new iPhone 13 pro for a minimum of 20 months.
That's how it works for me. I'm a trade-up every 2 years kind of customer. And the unlimited plan iI'm currently on is actually cheaper than the 15GB plan I used to make 5 people share. You and I are different types of customers. It might not be best offer *for you* if you are like my 22 yr old... a single person on a MVNO type plan. But it's the best offer *for me*.