Mercurial is actually more capable (see "phases" and "changeset evolution"). From the standpoint of the end user, that is.
The well-documented shittyness of the git user experience was the key to its success because it forced the creation of shiny wrappers and integrations to hide the abomination within. And this combination of gloss and peer pressure now manages to convince people that git is "good".
Worse is better indeed...
I do think the time is just about right for someone to start a new generation that has compatibility with Git but provides a better user experience. Also in this category, see the Breezy effort that some old-time Bazaar hackers have started: