When code diggers found out that the iPhone 8's virtual home button might be resizable, and there could indeed be a "function" area around it, as analysts predicted, a graphics artitst took to their heart to imagine how this setup might look like. The new digital home button of the "all-screen" iPhone 8 might end up looking like what you see in the slides above - big and omnipresent at the home screen, with apps opening up above its "HomeBar," while media or games that requires full screen can hide it out of the way completely until you need it again.
The fact that you may not be able to change its color or shade lends another credence to the "function" area that Apple analyst Ming-Chi Kuo was talking about when referring to the bottom of the iPhone 8 screen. At the time, he also mentioned that the "active" display area will be 5.15", so there could indeed be a navigation strip at the iPhone 8's bottom.
What else the "HomeBar" might be used for, remains to be seen, but the UI concept above gives us a pretty good overview of the possibilities - from notifications through various shortcuts and other pertinent info to display. What do you think about it?