Most of it’s fine, if a bit on the “incremental improvements” side.
Property Exchange is going to be huge, though not in modular / DIY circles. Big companies that sell boxes of presets, essentially, will be all over that, ushering in a golden age of quality-of-life utilities for the masses. (see “Camelot Pro”)
But when I voiced concern, it was over the Protocol Negotiation stuff.
I’m imagining a scenario where my controller says to a synth “I can support pitch bend up to +/-X”, the synth says “I can only do +/-Y”, and whichever of those is more flexible adjusts automatically to match the other.
…which sounds like an amazing value add, until you consider all the other gear in your collection which will never support this, which you’ve manually adjusted settings for, and which the silent configuration change which occurred in that last paragraph might not line up with.
I should reiterate, though, that this is entirely speculation (read: paranoia) on my part. I haven’t gotten deep enough into the documentation yet to confirm any part of what I just typed.