System date usually nearly all storage in iPhone 12 mini 64gb

My iPhone 12 mini (bought brand new Oct 2021) is showing that I have basically 50GB on system data alone. Phone is only 64GB but surely the system data cannot be using this amount of space.

Phone is up to date and have only got the apps I use all the time and they take up an extra 1.3GB leaving next to nothing for photos/videos.

What is the system data? Can I reduce it?

I cannot afford to buy another bigger memory phone for quite a few years - before this was still using my old SE (1st ed) 64GB and never once ran out of memory yet had far more apps on it and more photos and videos. Always been an iPhone user since it came out but now wondering if I should have done as children and grandchildren advised and gone for an android so can increase memory.

I love phone but what is point if soon I will not be able to do anything on it as system data is becoming bigger and bigger.

Can anyone advise or should I just cancel my apple plan and save up and buy an android and accept I have thrown £700 away on phone that runs for itself not the user.

Thanks