Just compare it to the "newest" iPhone SE 3. Both at the same price tag. looks a bit hard to make a decision to buy which one.
Price: $827 vs $799
Screen: 6.1" vs 4.7"
CPU: A13 vs A15
Mobile: 4G vs 5G
Back Camera: 2 vs 1
Battery: 17 vs 15 hours
Weight: 194 vs 144grams
GPS: GPS vs GPS+GLONASS+Beidou
eSIM: 1 eSIM vs Dual eSim support (I guess it meant the number of active eSIM at meantime)
Or waiting for the Telstra deal tomorrow as mentioned by @hurtsville
If you're with Telstra, you can get some decent discounts with Telstra Day tomorrow.
They have iPhone 11 128gb for $779, iPhone 12 128gb for $1029.
https://exchange.telstra.com.au/telstra-day-may-2022/
Worth getting this or pay extra 170$ for the 12?