Or maybe keep the OLED display but remove Face ID. It seems like a switch from OLED to LCD could potentially require more extensive changes to the form factor of the device.
Incidentally, the small form factor could mitigate potential backlash if the lowest cost phone in the lineup indeed became the first with a notchless fullscreen. This is because if based on the Mini, even without the notch it would still not offer near the screen real estate of higher end phones. Then again, I'm sure there will be folks going ballistic either way, so maybe they'd just leave an empty notch there.