Even though there has been some interest in the VSE lately, this still feels a bit like rearranging the deck chairs on the Titanic, like Troy explained.
It would be both, extremely interesting and helpful to think about an entirely new VSE design. How would a modern VSE design look if we were to remake it from scratch?
This would give us a better idea of how much work a VSE rewrite would need, even in early stages of the design process. And it would probably raise interest of developers (I’m personally interested, but shy away from designing such a beast given that I’m by far not experienced enough in video editing).
We then may still decide it’s worth working on the current VSE UI. But I suggest to first get a rough idea how the future of the VSE may look and how far away it is.