This will be an important release for Apple in any case. The iPhone has been suffering in popularity lately, partially because other companies have started to take over the market quite successfully, and partially because Apple themselves have made some slightly questionable releases with the last entries in the iPhone line.
Because of this, all the attention on the iPhone 7 is more than justified – people expect something big from this device, and Apple should definitely give them something to meet those expectations if they want to retain their relevance on the market in the future.
Otherwise, we might see the company suffer in their popularity once other brands start releasing phones that are smaller, more powerful and more elegant than Apple could ever manage.
That’s a real risk for Apple right now, and the company may very well find themselves reverting back to their status of a niche brand that’s only enjoyed by a handful of people if they aren’t careful with the release of the iPhone 7. But there’s plenty of time to go until that happens, so hopefully Apple are already planning something spectacular that’s going to help people remember why the iPhone was such a popular name in the first place. There is definitely still a lot of potential in this brand and it’s up to Apple to realize it properly.