It might be too new for it to be affected at this point, though two major versions in... I’d be expecting some sort of drop. How many hours of screen-on time are you getting?I haven't noticed any difference in battery life on my 4th generation Air. Other than the super ugly clock font on the lock screen, it's pretty much the same as using it on iOS 15.
I saw a 30-40% drop immediately after Apple forced my 9.7-inch iPad Pro from iOS 9 to iOS 12, I can’t imagine how poor it might be on iPadOS 16. I saw one screenshot and it was at around 5 hours, hopefully that’s not the norm because I get more than that on my iPhone 6s on iOS 10 at high brightness...