Skyline,
I disagree on "facelift" part. While it looks like a normal software now with solid design, the biggest achievement was, it made (most of) BIAB non-modal & modular. Not only you can adjust & resize views, you can work with different views simultaneously, on single or multiple screens. Overall it greatly improved workflow.

The younger audience... I don't know if I want that. Meaning mainstream Hip Hop, Techno / Electronic (and sub genres).
Genres that are at heart of BIAB: Rock, Blues, Jazz, Folk, Light Pop, World...mainly appeal to folks 40+
And that is great, because there is almost nothing out there that has such a vast library of traditional genres, while there are tons of beat making software titles. Having said that, of course BIAB has to go further to modernize user experience. UI + Library were major steps toward that.