Here's my proposal -- we've seen how Apple's new naming scheme is shaping up with Macs and iPads. So how about they apply it to iPhone as well.
iPhone Mini: 4" screen, similar design to the current iPad Pro with a simple bezel, no home button. Small and minimalist device. The successor to the SE and the premium small phone we've been wanting. It would even be slightly smaller than the SE with the same screen area.
iPhone Air: The current Xr, basically, becoming the mid-tier model with medium size.
iPhone Pro: The current XS Max. The large, top-spec option with the best everything.
So, we get three models. Seems simpler to me. I'd love to see the notch disappear across the board and have everything look like the new iPad Pro's in style.
iPhone Mini: 4" screen, similar design to the current iPad Pro with a simple bezel, no home button. Small and minimalist device. The successor to the SE and the premium small phone we've been wanting. It would even be slightly smaller than the SE with the same screen area.
iPhone Air: The current Xr, basically, becoming the mid-tier model with medium size.
iPhone Pro: The current XS Max. The large, top-spec option with the best everything.
So, we get three models. Seems simpler to me. I'd love to see the notch disappear across the board and have everything look like the new iPad Pro's in style.