Ideally, I'd like to see a fully-featured RX 7xxx card within the PCIe 75W bus limit and single slot, at whatever performance would fit within those bounds. Hey, maybe even a low-profile variant. Whether they call it a RX 7500 or RX 7400 wouldn't really matter.
This alone would differentiate it not only from all the RX 7xxx cards and RX 6400 it would replace, but might also actually compete with nVidia's 3050.
All existing 7xxx cards are dual slot and require more than the PCIe bus power.
RX 6400 is single slot, low power, low profile, but doesn't have encoders.
3050 and A380 are low power, even low profile, but dual slot.