Why no “Home” button?
Not needed.
My two year old iPhone X works just fine without the home button. In fact, better than the older phones with the home button.
And that notch they seem to dislike so much actually has a hidden function. When I pick up the phone it immediately orients me as to which side goes up. Without the notch, I would have to look at the back to see which way is up.
Of course, some will say a much more elegant solution would be to make the phone so that one didn't need to know which way is up. But, this would require the back to also have two possible orientations. And require a lot more cameras.