VASIMR is one of the few test articles with flight hours of this category (or maybe a sibling category), and when you factor into account the thruster and the power supply, its thrust to weight ratio for the VX-200 prototype was unworkably low. Not "too low for launch", I mean "too low for a steady burn of months to attain meaningful progress towards interplanetary or orbital objectives".
You have to simultaneously solve for power to weight ratio issues on solar panels, power supply, and the actual thruster. The best solutions right now for most purposes are relatively low Isp (low propellant efficiency) Hall thrusters.
In space, heat dissipation is remarkably harder than it is on Earth, so getting to, for example, 97% thermal efficiency rather than 94% would be a big deal in terms of the mass of the heat dissipation system, and I think this and reducing the mass of the actual electromagnet is the advance here, if there is any.