Let's see... it's replacing the SE, which is no longer on Apple's website. It's more expensive than the SE, at $599 vs $429. It's a pretty substantial hardware upgrade over the SE, including something like 75% more battery life by Apple's numbers, but it's also noticeably bigger.
Apple's own comparison tool is useful: https://www.apple.com/iphone/compare/?modelList=iphone-16e,i...