iPhone 16 pro shut down

Replacing software is not going to affect the value of your iPhone. If you update an app or iOS software on the phone your are "replacing software". Any iPhone that has been used even just for a few days that has a bunch of apps on it has had some of the software replaced on it.

If you want to try to do this yourself, read these articles:

If your iPod touch won't turn on or is frozen - Apple Support

How to factory reset your iPhone, iPad, or iPod touch - Apple Support

Me? I would just take it back to the store and let them worry about it. Your iPhone is still under warranty. They can either get it working again by reinstalling the system, or they can replace it.

Here are some common solutions you can attempt:

1. Follow the Apple article to resolve the issue --> If your iPhone, iPad, or iPod touch won't turn on or is frozen ...
2. If not resolved; please follow the steps in the following link for support with this issue: If your iOS device restarts or displays the Apple logo or a spinning gear unexpectedly
3. Sometimes, a simple restart can resolve temporary software glitches. Turn off your iPhone, wait for a few seconds, and then turn it back on.
   1. Restart the device. That's it.
   2. Still not solved --> Force restart iPhone - Apple Support
4. Make sure you have the latest updates installed. Update using iTunes/Finder —> Update your iPhone, iPad, or iPod touch - Apple Support (IN)
5. You still see a black screen after charging, force restarting, following the steps in this article.
   1. You see a black screen, but you can hear alerts, sounds, and vibrations.
   2. The screen remains black, but the device chirps when you unmute it and connect it to power.
   3. Your screen is on, but it doesn't respond when you tap, slide, or try other gestures. 
   4. You can't force your device to restart because a button is broken or stuck.
   5. Your device is stuck on the Apple logo, displays a solid color, or isn't recognized in iTunes.
   6. Contact Apple Support to set up service if you have any of the above issues:
6. Please follow the steps in the following Apple Video for support with this issue:

If none of the above steps resolve the issue, it is recommended to reach out to Apple Support or visit an authorized service center for further assistance. They can provide specific guidance based on your device model and iOS version.