> Alternatively, once optical interconnect becomes cheap enough, we could return to that technology - two power pins & one optical connector.
Why would we need to? Smartphones don't even use USB 3.0, because smartphone can't realistically saturate 480 Mbit/s of USB 2.0. Of course, power of smartphones will increase over time, but, assuming current speed of progress in technology, we won't exceed USB4 speeds (40Gbit/s) before 2040.
> A phone would also benefit from a contact connector similar to Apple's magsafes (attached via magnets) rather than insertion plug
Magnetic cables already exist and aren't really popular.
> savings on internal space
USB-C port is 8.4mm2.6mm6.65mm = 145mm^3 = 0.000145L. Volumetric density of modern batteries is around 210 Watt-hours/liter, so, with saved space, you can store 0.03 Wh. It's 6 mAh at 5V.
Though, connectors based on magnetic pins are easier to waterproof (but it's still possible with USB-C).
> That we are stuck with plugs and sockets is largely artifact of requirements for uses other than charging, including pendrives & other USB dongles.
These things aren't going anywhere.
> Lastly, a clear directionality hint to charging cables would be good: if you connect a phone to a tablet, which should charge which?
None should charge other by default. User should be able to decide directionality of charging.