I do. I have some twelve-year-old students getting way into this thing, and it'd be great for them to have a Moldvay-like beginners' system that made it easy.
Per your worries, though, what I'm suggesting is not simplifying 5e further: I suggest bifurcating the game into a chopped-down basic version and a full advanced version much like we had during 1e. I don't know if the Starter Set darjr linked works like that (haven't studied it), but I would think doing this should be a natural progression for WotC in the current environment. They want more new, young players, the game is white hot, and more books and modules to sell along with growing the customer base--well, that looks financially inescapable to me. I imagine conversations about this have already happened somewhere in WotC's offices, no?