Has Apple let us down by not meeting third party expectations?

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So Tim Cook held his first Apple press event and many people seem to have come away disappointed. We were promised an iPhone 5, right?

Well, no, we definitely weren't promised anything. The rumors and leaks all pointed at the launch of the iPhone 5 to the extent that many sites were billing the event as "the iPhone 5 announcement." When no iPhone 5 was forthcoming, Apple's stock took a hit (though it rebounded fairly quickly).

The funny thing is Apple's got a phone with new, faster internals and a new OS coming. Sure it looks the same on the outside but, from what they said at the press event at least, it's much different on the inside.

So why is everyone disappointed? Is it because what Apple fanboys really are looking for is a new design?

Apple says the A5 inside the iPhone 4S is twice as fast in CPU tasks, and 7x as fast in GPU tasks, as the iPhone 4. At the same time, battery life has been extended, and download speeds improved via new dual antennas. The theoretical maximum download speed has doubled.

To me, these sound like respectable improvements, and that's before you get to the better camera and the new cloud syncing and Siri voice command stuff (which, at least based on the demo, leapfrogs what Google has done in Android and Microsoft has done with Kinect).

So why the disappointment? Would we have been happier if the iPhone 4S was called the iPhone 5 but was otherwise identical? Is it all about a name?

I don't have any answers, I'm just throwing out questions. Is it fair to hold a company accountable for not meeting expectations that third parties set? I don't see anything changing any time soon. Leaks are still going to leak, rumors are going to slip out and tech bloggers like me are going to keep passing them on. But I think we, as readers need to keep our expectations in check to a certain extent. We let ourselves get caught up in the hype and start accepting rumors as fact and we end up disappointed and angry. Whose fault is that?

Maybe next time Apple chooses not to live stream one of their press events we should take that as an indicator that there might not be a mega-announcement coming?

Read more of Peter Smith's TechnoFile blog and follow the latest IT news at ITworld. Follow Peter on Twitter at @pasmith. For the latest IT news, analysis and how-tos, follow ITworld on Twitter and Facebook.

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