Another Edge Explore owner here, it is a better tool for the job of tracking and navigating on a bike (IMO). But I understand why people wouldn’t necessarily want to pay out for something as specific as a bike GPS device…
If you do go down the phone route, think about how you mount/carry it (assuming you want to use it on/near the bars or top tube).
I’ve done the whole using a phone as a cycle computer thing in the past, and the best thing I found for carrying it was a bar-top mounted map bag with a big old (touch screen compatible) waterproof map pocket on the top.
I had a clip on, weather tight phone wallet for a while, but that just didn’t last, they actually need to be a bit more robust than you might think.
A stick on Garmin style quarter turn mount is also an option for a phone/case but beware the relative bulk of a phone makes it quite vulnerable compared to other devices.
I still have the bar-top bag, it’s got useful capacity for tools, spares and other stuff and the Garmin can fit in the map pocket (as can an actual map). It would still make for another useful touring/bikepacking type bag.