If they get rid of TouchID it's the final nail in the coffin for Post-Jobs Apple. That is NOT something Steve Jobs would do. Jobs ran Apple under the notion of "We may not be first, but we don't do things until we get it absolutely right." Well in this case they would neither the first, nor would they be getting it right.
They'll spin facial recognition as being better/more accurate than fingerprint scanners (which it isn't) and pull some "Courage" cop-out like they did with removing the headphone jack. Now, that wasn't a Steve Jobs move either, but it's something I could live with. Getting rid of TouchID though, that's ludicrous (and when I say getting rid of TouchID, I mean getting rid of the fingerprint scanner). It's literally embedded into everything, even their MacBooks now. They used to have uniformity among all their products and their slowly drifting away from that. They made the case that the headphone jack was fully matured and past it's time, and a case can be made that it was. But TouchID hasn't even been fully perfected yet, and to get rid of it makes no sense. There's room for improvement, it's obviously useful, and it's not a failing feature.
Also, I may be looking too far into this, but how the hell is facial recognition supposed to work in extreme low light situations like, I don't know, using it at night????