The cheaper one is plastic so not as heavy. Yeah! It has a fingerprint reader. The new 'improved' version has a face reader which worked OK until March and now is pretty useless when you are standing in a store trying to pay and your phone won't unlock because you have on a freakin' mask. I need a fingerprint reader. The cheaper phone also has a headphone jack. I don't miss the headphone jack as much as I thought I might but it would be nice to have it back. And the cheaper phone has twice the storage.
The camera is not as good. But, plenty good enough for my purposes. The cheaper phone does not have wireless charging. I can live with that. Plus, if I can't, there are work arounds.
I have, for the past few years, bought a new phone every year - whatever Google announced in October was what I bought. But I think it's time for that to end. None of the rumors about the Pixel 5 impress me enough to even wait for the announcement.
So... it's crazy but I'm at peace with my decision.