It's not that bad, because it comes with earbuds that have a lightning connector, and it also comes with this dongle (you have to buy more at $9 each) to convert your legacy 3.5mm jacks to lightning:
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http://www.apple.com/shop/product/MMX62AM/A/lightning-to-35-mm-headphone-jack-adapter>
It's also the case that older phones with iOS 10 work with this connector.
The real annoyance with the iPhone 7 is that you can't charge it and listen to (wired) music at the same time. (I have one, and it's annoying in that regard.) A secondary annoyance is that you can't use the new earbuds on a MacBook.
I also wish to point out one thing, the Apple 3.5mm jack actually has four connectors, and it connects a speaker, microphone, and the control switch... but I'm going to try the AirBuds, they will obviously pale in quality compared to my real headphones, but probably be as good as the Apple earbuds, but far more convenient. I also wish to pump less microwave power into my head, so it seems good to try to use any form of earbuds more often, and the AirBuds look convenient... but that might just be a dream, we'll see.