I totally understand that this is a HUGE request. It appears to me that: (all of these are simply emperically assumed and I could be totally wrong)
Lightroom Classic is mostly a very intellegent front end to Adobe Camera Raw's abilities
Smart Objects within Photoshop and perhaps other Adobe apps are more or less ACR's abilities packaged into an object
I'd like to see Adobe Cine Raw which would essentially package Premiere Pro's Lumetri concepts along with the new "Canon Cinema Raw Light Source Settings" and there are probably other similar manufacturer specific panels that would be nice to include. Adobe Cine Raw would be for color correction and possibly color grading -- but that's it. Similar to ACR's original deployment before addings masks and other great features. I think the Adobe Cine Raw concept could be leveraged everywhere like Premiere Pro, After Effects, etc much like ACR is leverage everywhere.
Then introduce Adobe Cine Raw to Lightroom and add pieces to its UI to utilize it as much as possible. This would include "round tripping" to Premiere Pro or After Effects or Media Encoder. The key to Adobe Cine Raw is when the video lands inside Premiere Pro, it would already have the color correction and color grading done in LR set up, just like the round trip from LR to PS, in such a way that I can either build from that point or tear it down / adjust the LR settings. Nothing would be baked in until the final render.
I considered myself a still landscape photographer. But as cameras get easier and easier to flip into video mode and those modes become as cutting edge as some of the best cinema cameras, my walkabout into video gets deeper and deeper. I'm getting frustrated because Canon's raw files *.CRM and their processed XF-AVC files *.XMF are not even ingested into LR. I feel like I am unable to keep track of my video files like I can my still image files and this really bothers me. I still have not found a clear winning solution to the problem. Adobe Bridge would at least keep track of all the files but I don't want to give up on my LR user interface as well as I would much prefer LR's database driven desigh over Bridge "scan the file system" design.
The Adobe Cine Raw concept is secondary to my needs right now. My needs right now would be satisfied if I could just get the *.CRM and *XMR files into LR so I could tag them etc. BUT, along this path, LR does not ingest all of the metadata present in video files even in the formats it knows about. Thus the title of the Feature Request: Make Video files first class citizens.
OR give me a "Lightroom for Videos" app which is separate. I'd prefer one app but there are lots of arguments for two apps. There is currently no "Lightroom for Videos" anywhere on the market.