More camera tech than the 13 mini would be going the wrong direction cost-wise. Apple took the more pragmatic approach here and gave consumers what they really want, which are modern features and a decent sized screen.
Actually before all the leaks came out, what I was expecting was a more expensive SE 4 with something like a 5.8" screen, 6 GB RAM, A17, and Face ID. Apple made it even better (for the masses) with a 6.1" screen, 8 GB RAM, A18 (with AI support), and Face ID, but unfortunately for $50 higher than I had hoped.
For reference:
View attachment 2523841
For the next iPhone "e", they can keep the 6.1" size but reduce the bezels a bit more.
And compared to the recent Pro Max line of phones, that 6.1" looks tiny in comparison, for the mainstream.