I'm not that active on matrix (mostly just passively listening on a few topics that interest me).
However, regarding your last point there seems to be an active focus on improving element and their recent post about elementX [1].
I agree with your other points though, there are a lot of experiments that often lead to nowhere (e.g. P2P is basically abandoned AFAIK).
ElementX on iOS feels really good these days. On the desktop though, I feel nothing really scratches the Discord itch.