Yeah I'm with you guys on this one. If you'd of asked me 6 months ago if I would be upgrading I would of said without question, but now that the 5 is here and I can actually compare the 2 devices, I see little incentive to upgrade. Sure the 5 has sightly better specs but are they $500 better? No, not to me. I'm pretty disappointed with what they did or rather didn't do with the 5 series... No screen upgrade ( VR compliant resolution) , no sdcard slot (this a big disappointment), no stereo speakers (or even front facing, as gaming inevitably covers the down-fire with hand), no 3.0 USB type C (on a device now sporting 4k cam, really? so you have to offload at 2.0 speeds... wow) , and no earth moving styling changes ether.
All that adds up to the 3 maintaining its bang for the buck , and likely will for some time to come.
I've grown quite attached to my 3, we've been through some crazy rough times together. and I've learned soo much from it in the process. On day 2 after purchasing I bricked it and thought I'd killed it. And at 3a.m not a lot of people on xda to assist so that was a rollercoster of emotion to the next morning when someone piped up and showed me the recovery tool for bricked devices.
Then on month 3 I accidentally slammed it down on the sidewalk attempting to remove my arm from a stubborn winter coat and shattered the screen. A phone call later informed me the repair shop wanted $250 to replace it! So yeah, now I know how to DIY a OP3 screen replacement, including reglueing the glass onto the new $100 replacement screen (and let me tell ya, not fun) but I did it and it came out flawless).
So in short, they'll have to do much better then they did to entice me into abandoning my amazingly tough and resilient oneplus 3.