Of course Verizon is going to blame Apple when it’s their network that’s at fault.
Don’t believe me, do an Internet search on a phrase like “5G slower than LTE” and you will see that it’s the networks that are at fault. People are reporting the same issues with Android devices.
Most often, it’s been because the cellular companies have allocated a very small percentage of their network bandwidth to 5G (less than 5% in AT&T’s case), and with all the new 5G devices coming online the 5G frequencies are overcrowded and often slow to speeds that are slower than 3G networks were.
(Why? The carriers wanted to be able to advertise they had 5G service but aren’t willing to slow down the 90% or so of users who are LTE-only at the moment.)
There is nothing that Apple, or for that matter Google, Samsung or any other phone vendor can do about that.
The only thing that will help is when cellular companies build out their infrastructure and allocate more bandwidth to 5G frequencies.
What was going to help with that is the sunset of 3G services in many areas, but that has been delayed as there are numerous non-phone services that use the 3G network, such as burglar alarm systems, point-of-sale systems, and weather stations, and converting all of those has been going much slower than was originally thought.
If you’ve ever tried to make a call or use data at a sports stadium or a theme park, you know the type of network congestion I am talking about. Only now it’s occurring on the 5G networks because of the new phones.
You may be saying to yourself, well Apple should just allow you to shut off 5G and use the LTE network. Unfortunately that is up to cellular providers, not Apple; in many cases the cellular providers do not allow them to provide such a switch.
So yes, due to these factors, we really are in a situation at present where an LTE-only phone, like the iPhone 11, or new iPhones on cell plans that don’t allow 5G (like the original iPhone unlimited data plan with AT&T) will see faster data transfer speeds than 5G phones using a 5G network. This will improve, but it may take months to years; the LTE network took several years to get to where it is. (There are several rural areas near me that are 4G networks, as they still haven’t received an upgrade to LTE.)
There is absolutely nothing Apple can do about it.
Apple sold you a race car, but unfortunately the current road network is a two lane highway clogged with traffic and you can rev your engine all you like but traffic is moving at 3 MPH.