The Apple Watch SE lineup, in particular, has always been a shining star thanks to its affordable price. And if a rumored design change is to be believed, it could be even cheaper, possibly cementing its place as the best budget-friendly smartwatch.

According to Bloomberg's Mark Gurman (via MacRumors) in a recent Power On newsletter Q&A, it's "sounding increasingly likely" that Apple will replace the current Watch SE's aluminum body with a rigid plastic material.

My immediate thought was "plastic body = cheaper price," but there might be more to this material debate under the surface. Until Apple actually announces it and gives us the concrete details, I can't decide whether the pros outweigh the cons, or vice versa.

A plastic Apple Watch SE, but at what cost?

The most obvious pro for a next-gen Apple Watch SE made with a rigid plastic material is cost.

Currently, the Apple Watch SE 2 retails for $249, but it's often on sale for less than that. There's no telling exactly how much Apple could reduce the price for a plastic Apple Watch SE, but it'd be great even if it were a $50 cut. A $199 starting price for the Apple Watch could really help it lock up the budget market.

That said, there's every chance Apple will not reduce the price at all. Apple could just reduce internal costs to increase profits and keep the Apple Watch SE price at $249. That might not sit well with customers, but it's a possibility.

Apple Watch Series 9

Another potential pro is the possibility of fun colors that aren't available with the current aluminum body.

Looking back to 2013, the iPhone 5c was launched with a cheaper plastic material in bright blue, yellow, pink, and green. If a plastic Apple Watch SE could follow suit, you could snag a colorful Apple Watch for your kid — a campaign Apple has recently been pushing — or for yourself.

From another perspective, the plastic material that could allow for a cheaper price and fun colors might be a deal breaker for many.

After all, the iPhone 5c was the only one of its kind, and you rarely hear it mentioned today. There wasn't enough of a price difference between the iPhone 5c and 5s at the time to make the 5c's colorful plastic body worth it.

Many people like the existing Apple Watch SE lineup because it's just a more affordable, less full-featured version of the regular Apple Watch.

By adding a plastic build to that list of differences, people will now have to decide whether a hard plastic Apple Watch projects the image they want and consider how well it'll hold up over time compared to the aluminum and stainless steel alternatives offered in the flagship Apple Watch series.