The new IRC is Matrix, or at least for now. For me at least, it fullfills the same needs:
- deploy your choice of server-software on your preferred server.
- use your preferred client to connect to your preferred server.
- allow communities to manage themselves in a decentralized manner, without any San Fransisco-based big-tech company imposing their CoC, ToS or view of "diversity" upon them.
And it does so in a way which is mobile-friendly and supports all the "modern" additions to IM which normal people have come to expect. I can't see how IRCv3, if it ever lands, can compete with this. It's years (decades?) behind at this point.
And if it lands a spec which is equally capable as Matrix, how can it ever be compatible with "the old IRC"? Myself, I'm still running my IRC network and servers, but they are bridged to Matrix and I encourage the community to move there too. And thus ends my interest in IRCv3.
All in all, this seems like a lot of spec-work going into a what is surely going to be a doomed venture.