It remains to be seen whether Apple will launch the iPhone 16 with capacitive buttons for the Action button and the dedicated camera button.

Source: https://www.gadgets360.com/mobiles/news/iphone-16-design-prototype-redesigned-camera-layout-volume-buttons-report-4664773

It would be an interesting choice considering the Action button is currently one of the major differences that distinguishes Apple's new pair of premium iPhones from its entry-level models.

Source: https://www.cnet.com/tech/mobile/iphone-se-4-rumors-what-we-expect-from-apples-cheapest-iphone/

The increased utility of an Action button is an easy sell to customers and lets them get accustomed to using one solid-state button.

Source: https://www.forbes.com/sites/gordonkelly/2023/04/15/apple-iphone-15-pro-max-action-button-redesign-new-iphone-upgrades/