I think we’ve crossed into random ideas territory, or at least should start putting the conversation in hidden blocks so as not to derail things (we save that for the lumen thread 
).
That said, the core of this conversation is very relevent: alpha-tested geometry is no longer a performance win, for ray-tracing or visibility-buffer renderers like nanite; if someone on Epic’s tools team could make a conversion tool like they have for nanite displacement, it would make it a lot easier to use things like MegaLights without either content or performance issues