But do you leave your phone's screen turned on 24x7?

I buy that there are more expensive things you can do with your phone, but even if turning off Bluetooth is only giving you back a small percentage of your total battery usage, that might genuinely be noticeable on an older device with an older battery.

I would say it's doubtful it even uses 1% of it. You can use low battery mode to more intentionally extend it.