It is only cheaper if your current phone is not under contract. When you purchase a phone under contract, the access fee on the new plans is $40 per month instead of $20 per month until the contract completes. Since you are getting the phone for a reduced cost, you pay that back with a higher connection fee for 24 months.
So if you are not in contract, you get 2 GB for $55 - yes cheaper than the loyalty 1 GB $60 plan
But if you bought a phone at reduced price within the past 2 years and you are in a contract on that line, the 2 GB new Verizon plan is $75.