At best, even if we were considering this rumored product a new category between iPhone SE and iPhone 16, the iPhone 16e name would have likely been ranked as "unlikely.".
Apple didn't simply change the expected iPhone SE 4 name to iPhone 16e — they're distinct product lines and all the data points to a strategy shift.
The original looked like the iPhone 5S in a world where the iPhone 6 existed, and the 2022 model looked like the iPhone 8 in a world full of Face ID devices.
However, when Kuo reported that Apple resumed development of the iPhone SE 4 in February 2023, it's clear he was unknowingly talking about the iPhone 16e.
Had we been considering the rumored product to be an entirely new iPhone category, the iPhone 16e naming would have made more sense.