My old iPhone took a swim but it mostly came back. The face sensor and NFC stopped working immediately but after a few months the NFC started working again. Eventually however parts of the touchscreen started failing in vertical strips. At first it was still usable but at some point too much of the screen became unresponsive I had a get a Bluetooth remote to use the phone.
I was stubborn about getting a new phone as I knew the iPhone 15 would get USB C and wanted to wait hot that.