Okay, it probably won't look like an iPod. But will it have an OLED display? Will it be bezel-less? Will it have larger 5-inch and 5.8-inch displays? Will it be a svelte as a wafer-thin mint? These are all possibilities.
The physical attributes of the iPhone will be improved, and the functional attributes will be more improved. The iPhone will eventually replace our iMacs and MacBooks. Will the iPhone 8 start to take that step? Will it help us more in our daily work?
A 5.8-inch display might be nice for a cell phone, but a 5.8-inch display will never be a display for working. Will Apple give the iPhone 8 the ability to connect to a 27-inch retina display? Will iOS and new apps have enhanced keyboard and trackpad support? There are many exciting possibilities in addition to the improved physical aspects of the phone.