Yes the screen size is the same but the body is not... It will be longer and much more odd looking because of it. Not only more odd looking (like a long clown shoe), but also if the bezel for the home button remains the same it will be less manageable with one hand because the length of the screen you would have to traverse added with the bottom of the bezel where the phone would rest in your hand. Additionally at the lower resolution it still impacts customer experience. None of Apples content on iTunes is at the crazy non-standard resolutions they insist on using time and time again; they are industry standard resolutions like 1080P. There are standard for a bloody reason. Because Apple ignores this, this leaves iOS customers with having huge black bars on the top and bottom of their viewing experience... You could then double tap to blow up the video but that would mean you would be missing what's going on in the scene on the sides... It's just a bad customer experience and makes it even worse that in a sense your competition is using standard resolutions for their flagship devices that are 'more compatible' with the content you sell than your own bloody devices.
You're showing your lack of knowledge. There are several HD pixel counts. 1280x720, 1920x1080, and of course 2560x1440 (4x) HD. All these have one thing in common that allows a video shot at any HD pixel count to be viewed on different displays, and that's the fact they all share a 16:9 aspect ratio. This is the reason Apple elongated the display on the iPhone 5; to give it a 16:9 aspect ratio versus the 4:3 (16:12) aspect ratio of all previous models. So, beginning with the iPhone 5, iPhones no longer letterbox HD video with large blank areas of screen real estate. And that means iPhone is the same aspect ratio of most Android phones.