Problem is would the smaller iPhone be forever extinct now that iPhone 6 is the new precedent.
The 5S is going to continue for another year at least in both 16GB & 32GB to start with, then they probably drop the 32GB version sometime next year and just continue with the 16GB version.
As it been shown the 5S isn't that much slower than the 4.7" 6, so those who decided to keep the 5S for another year until the 6S are making a wise decision I think.
I'm wondering if apple will release a cheaper 8gb model for the 5S? Just to use the 8gb chips they probably still have