I would buy a 5.5" 16 Plus with Home Button and Touch ID for the same price to replace my 8 Plus. They can also call it SE Plus and release it a few months later, a headphone jack would also be nice new feature.
But I fear the small SE from 2022 will be my last iPhone.
I am really not paranoid but I don't want anyone to scan my face permanently and especially don't want any kind of rays sent directly to my eyes.
They could also put TouchID on a side button like some iPads have. I think I am able to learn using it without a Home Button. 😉