But it's never been about 'cost-effectiveness. Why would a manufacturer care about that when he can get you to pay $2 for $1 worth of technology. Also, as far as the computer industry being light years ahead of the tiny niche market of the arranger keyboard, we have to remember that the computer industry, or more specifically, the 'chip' and OS development industry, is there mainly to serve OTHER industries. So, I don't believe there is a functional technology lag between the 'computer industry' and the industries they serve. I think the latest computer technology is almost immediately available to the R&D dept's of most major manufacturers. I still think that the technology lag of which you speak is deliberate and driven by market considerations (and to a lesser degree, R&D time).
The scenario you present of multiple assignments to all the basic buttons, sliders, and switches to enable them to send specific midi messages would still require the arranger player to try and remember the secondary function of these controllers, and to still have to go arranger to computer....for the infamous 'average arranger player', that ain't happening....AND THE MANUFACTURERS KNOW THAT. Which, with all the wisdom gained from @ 50yrs of making and selling arrangers, they won't do it.
But, that's just my take on it and I make no claim to being right.
chas
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"Faith means not wanting to know what is true." [Nietzsche]