Moving iCloud storage to new iphone with more storage
I have a new iPhone with more storage. How do I transfer out of iCloud to new phone?
iPhone 11
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You have to understand that iCloud storage has no effect on the physical storage on the phone. They are two different things. If you are getting a phone with more storage, chances are you will need more iCloud storage for backups, photos, messages etc and any of the things that you sync with iCloud.
If you really want to downgrade, see this.
Downgrade or cancel your iCloud+ plan - Apple Support
You might want to read this as well.
What's the difference between device storage and iCloud storage? - Apple Support