Each to their own.
I find it perfect and the design is sublime!
I find the control layout to be great (everything I need, nothing I don’t, everything within easy reach, I can put my finger directly on any necessary button without looking and without having to reach over dozens of currently-unused buttons like on many universal remotes, the buttons have a great feel, and the trackpad is very responsive).
I find the chassis to
look pretty (it could be said to be elegant), but my hand doesn’t
look at it, it
holds it, and to me the chassis is an ergonomic disaster - it’s so thin that it’s difficult to pick up off a table quickly. It takes effort and looking, and those are qualities a TV remote should not require. When you do pick it up, it’s fairly slippery, and there are few non-visual cues to the proper orientation in which to hold it - again, requiring looking, an undesirable quality in a remote - and it’s easy to accidentally press buttons or the touchpad in the process - also undesirable.
(i think the chassis shows heavy influence from Jony Ive’s “everything must be inordinately thin, form over function” school of thought, and I’m glad to be seeing that ending - the needle had swung too far one way, and when Jony got complete control, it swung too far in the other direction - now it seems to be getting back closer to the middle. I want a remote designed for the coffee table, not designed solely to be in a design museum.)
I have mostly solved these failings on my ATV4K remote (and the on for the ATV4 before it) by putting it in a Griffin SurvivorPlay case (sadly long since discontinued and superior in fit and feel to the large collection of cheap silicone cases on Amazon) - this this gives it, subtly, a more rounded almost ”dog-bone” shape, and lifts it a little higher off whatever surface, presenting the edges, making it easier to grasp without looking. I’ve also put on Apple’s “Remote Loop” wrist band - I never use it as a wrist loop, it merely gives the remote a “tail”, making orientation of the remote more obvious without looking. It also occasionally signals its presence if it, say, gets partly hidden under a pillow on the couch.
So, I’d like to see Apple offer a new remote with the same control layout (they can add a mute button if that would make enough people happier, I don’t personally care), but in a slightly more ergonomic case - make it a little more grippable, and easier to pick up, and easier to tell which end is the front/top without looking, that’s all I’m asking.
(As to the list of other bits you suggest, I’d be happy to see most of them, but I don’t know what Apple is willing to do at this point - they don’t seem too interested in supporting new standards “just because”, they want there to be a significant established market for them. I’m not sure if HDMI 2.1 and WiFi6 yet qualify in their eyes - I would hope that Dolby Digital+ does. We can agree on a faster CPU though - faster is nearly always better.)