I didn't see anything in there about a new design, just different software capabilities. A new design, to me, would be a slightly larger screen so that my Kindle-App technical books would be more readable.
Opinions differ. To me, a 'complete redesign' means that all previous design decisions get revisited. The end effect of a redesign could, in extreme cases, even be the identical product (that is what Coca-Cola eventually did in the 80s)
For iPhone, I would expect differences, though. The technology (especially batteries and screens) improves rapidly, and the target audience changes, too. On the one hand, apple has to reach out to less technologically savvy users; on the other hand, even those likely are more familiar with the UI than the original iPhone buyers were.
I would expect that the UI and the hardware should focus more and more on the cloud. The (eventual) end result of that will be the removal of the iPod connector in iPhone 7 or therabouts.
