iPhone X, iOS 14.3 - Can't connect to device over Telnet

Everything looks to be working fine, then when trying to connect via Telnet I'm consistently getting that:
```zsh
lgariv@MacBook-Pro telnetd_ramdisk % telnet 127.0.0.1 2323
Trying 127.0.0.1...
Connected to localhost.
Escape character is '^]'.
Connection closed by foreign host.
```