Hatmatter
Laws of Mordenkainen, Elminster, & Fistandantilus
Perhaps...speaking for myself, I am not seeing the advantage of this kind of consolidation. It is ok for the game to grow and for new books to emerge with new options. I think the PHB is a fine introduction to the game as is (once completely new people have been introduced to a simpler version: I bought The Essential Box Set and share the book in that with my brand new players). If a consolidation edition is published, then there will be a need for another new consolidation a few years later.Honestly? I mostly agree with the three of you on this. PHB SHOULD be simple. Not a simple as the Essentials Kit or Starter Set, but it shouldn't overwhelm the player with variant rules and ancestry and class options. It should be the core for which +1 can build from.
I think a revised PHB shouldn't be necessarily a consolidated PHB so much as including the options that are strict replacements (like revised ancestries, additional class spells, arguably the Ranger options from Tasha's) while excluding dials like supernatural gifts and the other class features. Those could go into the DM's Toolbox section of a revised DMG or else into an Unearthed Arcana-esque companion book of dials, bells, and whistles, alongside the subclass and ancestry options from Volo's, Xanathar's, Mordenkainen's, and Tasha's. This can and should be the default +1 rulebook, to be revised regularly to recompile new options into it.
Perhaps the Wizard's team will feel different, but I am having trouble understanding why it is not fine to simply let the game develop through new books that are published. Most of the non-campaign specific options are available in Xanathar's or Tasha's. Historically, those two volumes hardly constitute bloat (I am not saying that you are suggesting that, Marandhir). I think the game can handle options and expansions in new volumes. With the addition of D&D Beyond, as some have suggested, makes it even easier for those who use it to have a simple means of managing the natural development of the game.