I think something's planned for Launchpad, quite telling it's been removed from the keyboard of the M1 Macs. It's also a surprising neglected for a core feature of macOS remaining unchanged since it's introduction with Lion in 2011. It needs a complete overhaul.
Personally I can see them incorporating Launchpad into the Dock so you click a button and the Dock expands to show all your Apps.
So... quite similar to the Applications folder sitting in the dock and displaying as a grid when clicked on?