That is an acceptable compromise... it would be nice to have a second USB-C (for reduncancy, if nothing else).

Personally, I have several decent headphones with 3.5mm connectors. Having to buy a separate pair of headphones for phone use is dumb.

USB-C to jack adapters exists. Even USB-C to jack cables exists if you own headphones with removable cable.

Not saying it’s a good situation, I also miss the jack connector. But you’ve got the option to keep your headphones :)