My logic is, if i am going to spend so much on a phone, i might as well go for the biggest, if your finance allow.
But giving yesterday situation, just whack and get a phone is more important than anything else.
Back to this storage space, i always said if you can manage your storage, then it shouldn't be a problem. I went from a iphone 7 128GB to a iphone 8 64GB, storage space reduce by half, but i have no issue with that. My bare minimum requirement is 64GB for myself. I take lots of photos with my phone, so are videos, and esp iphone 8 now support 4K60fps, i tend to take more. I still have around 40GB left. I do not treat my phone as a storage device like some other does. When i run low on storage, i just move the photos and videos to my PC. I do keep some in my phone, but i do not need to keep ALL. Everytime i go oversea, i will move the photos inside my phone to my PC as back up. This way, i always have enough space in my phone.
Some people are just lazy to back up their stuffs, hence they need to buy a bigger storage phone. Most importantly is how you use your phone.