I don't understand how the iPhone SE could be priced this low and with great specs.
At $300 less, why would anyone buy an iPhone 16?
Better cameras and related features (can be a major selling point for buyers), Dynamic Island, etc.
When the original SE launched in 2016, it was $250 USD (around $330 in today's dollars) cheaper than the 6S yet had most of the same features. Each had same RAM, same chip, same 4G LTE, same Touch ID, single 12MP cameras, etc. The 6S was a larger phone (4.7" display versus 4" display) but other than size, the SE and 6S were pretty similar.