Connector is USB type C, controller inside of it supports USB up to version 2. With USB you have different connectors but all of them are backwards compatible. So yes, Apple put outdated chip in the phone on regular versions so you get only USB 2.0 speeds. Type C is obviously capable of much more than USB 2, power delivery included… which is the part of OP statement. You get modern connector with outdated interface. Next year they will just trickle down Pro hardware to regular phones and call it “upgrade”. That’s what Apple does.