I think Dynamic Island has a lot of potential regardless of whether Apple removes the pill.
Prior to this, we had two ways of seeing the status of something an app is doing. We could open the app or we could get a notification. For anything ongoing, opening the app repeatedly gets old. Notifications are only good for the moment it was sent.
Now we have a true status area.
Here are some things we could see in Dynamic Island:
If someone in my Find Me app sets my home as a destination, I could see their trip progress including minutes until arrival
Apps like NASA could display the countdown until launch for a mission and then x number of minutes or hours afterwards until the mission completed or reached a certain point. Similarly how about a countdown for when the space station is visible at my location
If I download an entire season of Gilligan’s Island in iTunes before a flight I could see the download progress
A progress bar for the duration of a restore from iCloud or transfer from my old iPhone when setting up a new iPhone
Weather could display all kinds of things like minutes remaining in a tornado warning, minutes until rain starts or ends, etc
The Health app could show me my heart rate for x minutes after any workout
Those are some of my thoughts. I’m hoping that eventually so many apps will use Dynamic Island that Settings will allow you to choose which apps you want to allow.