The features most people are listing are not really iOS software restrictions, but more of hardware related.

If anything, only some software features can’t be taken advantage of due to hardware. It’s like saying you can’t use the RTX on feature because you don’t have an RTX card.

Realistically software limitations between models would be animations and interactions that dynamic island would use. You won’t get tiny information like what dynamic island is on pro models.

Looking to Regular 14 models, you do get newer default wallpapers exclusive to 14 models. Can’t think of anything else.

Overall, you’re not missing out on much on this cycle of iPhones software wise. It’s the hardware you gotta be after to have a noticeably different experience.