Totallllly, i mean Wayyyyy off the mark...
So you have old of your 8mp Camera iphone and the new iphone comes out with 12mp... (just a random number dont get wet over it) anyway... You wont accept one because you think 8mbs enough... Dude i thought donkey kong on the gameboy was enough until the gameboy colour come out... Need to grow up, or chill.
Apart from the fact that megapixels don't mean anything for picture quality, merely how many pixels the image is constructed of. A 2560x1440 display is 3.7MP (rounded). You do not need a 12MP camera, and it is unlikely that the 5 is going to have a camera that will blow the 4Ss out of the water. Sure, it'll be better, but not in a different league, and not worth upgrading for. So no, not remotely "off the mark".
However, there is a huge difference between upgrading because it is required from a performance point of view, and required from a sales point of view. The Galaxy S3 and HTC One X both come in dual-core LTE flavours that, in the real world, perform similarly to their quad core counterparts. Right now, it's much like the megapixel wars, though of course as software becomes more demanding this will change. Customers don't know any better, but hey, what can you do. Samsung have largely boosted their sales by using the numbers, something which Apple has not done (hence why you never see Apple quote the amount of memory, as well as the clock speeds of the iPhone processors).
Of course, the extra power will be nice for developers but the 4S isn't going to go out of date in a flash. There will likely be little reason for any 4S user to upgrade to a 5. My case is a little different, however if I still had the 4S there is no way I'd upgrade to the 5, nor would I feel inclined to.
Whether Apple will go quad core now or not is unclear - they don't really need to. They'll probably focus on efficiency instead, which is always a good thing.