It is usual to write the "kinetic" part of the SR action as the Minkowski space-time interval, here $(-,+,+,+)$, times $mc$ $$ S_{kin} = -\int_{\tau_1}^{\tau_2}mc\sqrt{-\eta_{\mu\nu}\dot{x}^{\mu}\dot{x}^{\nu}}d\tau $$
yielding the eom $$ \dfrac{d}{d\tau}\left(mc\dfrac{\eta_{\alpha\beta}\dot{x}^{\beta}}{\sqrt{-\eta_{\mu\nu}\dot{x}^{\mu}\dot{x}^{\nu}}}\right)=0 $$
which brings forth the constancy of the velocity (principle of inertia).
But actually, any (scalar) function of $\eta_{\mu\nu}\dot{x}^{\mu}\dot{x}^{\nu}$ will prove valid to satisfy the principle of inertia. For instance $$ S_{kin} = -\int_{\tau_1}^{\tau_2}\dfrac{m}{2}f(-\eta_{\mu\nu}\dot{x}^{\mu}\dot{x}^{\nu})d\tau $$
results in the eom $$ \dfrac{d}{d\tau}\left(mf'(-\eta_{\mu\nu}\dot{x}^{\mu}\dot{x}^{\nu}=c^2)\eta_{\alpha\beta}\dot{x}^{\beta}\right)=0 $$
which again agrees with the principle of inertia.
We can take this even further, and use any old constant (covariant) matrix $a_{\mu\nu}$ $$ S_{kin} = \int_{\tau_1}^{\tau_2}\dfrac{m}{2}f(a_{\mu\nu}\dot{x}^{\mu}\dot{x}^{\nu})d\tau $$
to arrive at $$ \dfrac{d}{d\tau}\left(mf'(a_{\mu\nu}\dot{x}^{\mu}\dot{x}^{\nu})a_{\alpha\beta}\dot{x}^{\beta}\right)=0, $$
and doesn't this give way to the principle of inertia as well? So why does the Minkowski matrix enter the action? The Lorentz invariance property that $\Lambda^{\mu}_{\alpha}\eta_{\mu\nu}\Lambda^{\nu}_{\beta} = \eta_{\alpha\beta}$ is not used anywhere.
Is there any physical argument why this matrix should be the one inside the action? Perhaps only noticeably in the presence of interactions?