Even the bottom can be reduced, there are still a few millimetres that can be remove (i guess around 2mm in total, 1mm from the space between home button and bottom frame and 1 mm from home button and display). So 2mm from bottom and another 2 mm from top, we will get a nice 4mm reduce from top/bottom bezels.
I just looked at my iphone and agree it is posible to do that. However, you can do that now regardless of this new technology. What the original poster was trying to do was elimate a significant part of the top bezel without consideration of the bottom. So my point is that to stick with iPhone tradition, that seemed unlikely. Shaving a millimeter here or there is something Jony would do, but always maintaining eqaulity between the top and bottom.