If the screen told us the fault we would finally have come full circle. My 89 accord lxi's ECU had a blinking light (under the driver's seat) that communicated the detected fault. Yeah you needed a lookup chart but those were not very hard to find.
It would make total sense to have a semi-hidden menu that displayed all the info the computer has. The computer is already monitoring o2 sensors, injector performance, knocking, etc. Just expose that information. Why make us buy another device when the car already has the analytics built in?
Just to be clear external devices should absolutely still exist. It would just be nice, as a shade tree mechanic, to access the car's data directly.