I’m not sure that this is an either / or situation. Yes, 5e is doing well. And it’ll do so until it’s not. Change is not incremental. It is radical. It is transformative. It is unexpected. It can totally change the expectations and our understanding of how things have worked before. History is littered with it and, in the current times, COVID and BLM are spectacularly apposite and modern examples.
I was suggesting that if WotC is being honest about being inclusive and diverse it will need to be more than the minimal window dressing being suggested thus far. It is not a bunch of errata to the core books or some rule changes. It is not re-jigging or creating new origin stories.
Real change in D&D will mean a new edition sooner rather than later because it requires a rethought on mechanics for handling difference and “race”. (And, yes, that might mean they will also involve improvements to psionics)
So far, the only mechanical changes are removing alignment from the statblocks of humanoid creatures. Plus character customization options. If this resolves any
mechanical issues relating to inclusiveness, this is painless. Even awesome. Character customization sooner rather than later. Fantastic.
If WotC assigns alignments to the ideology of a faction, then having more than one faction allows different gaming styles. For example the drow. Players who want classic Good versus Evil, then they focus on the Lolth faction as the BBEG. Players who want to play a drow hero focus on the Good faction.
In fact, to move alignment from the creature species to the faction makes Old School games work better. Because Old School too had the Good drow. Now, when an Evil wizard gathers an army of orcs, these orcs are Evil because this wizard founded an Evil faction. That is how the Old School narratives tended to explain the situation anyway.
If the word "race" is dropped and replaced with "species" or "folk" or so, it isnt really a mechanical change, but the jargon is worth mentioning. Note, species is a word that has been around for many centuries, and used to mean a different kind of creature, since Renaissance times. Renaissance words in D&D are fine ingame. (Certainly the word "species" is more appropriate in a D&D setting than is the weirdly American antiquated legalese term "race". The word "race" has too much unpleasant baggage to survive as a neutral technical term.)
Search-and-replace with the word "species" or so. Delete alignment from humanoid statblocks. Make more character customization available. Done. Mechanically.
Probably, most of the scrutiny involves flavor, tropes, images, and narratives.
So really, the reallife issues relate moreso to the SETTING, not the mechanics. So we dont need a new edition of D&D. We just need updates of the official settings.
When it comes to the settings, it is hard to say whether the updates will be minimalist tweaks or dramatic retcons.