I’m not sure about tessellation (again, there’s no need to tessellate on the GPU if you have that density of geometry already), but I’m sure displacement will be back at some point. I know the goal is to get skinned meshes working with Nanite as well as vertex animation for foliage, so my assumption is world space displacement in general will be back. It would be weird if it weren’t, right?
What I haven’t heard anything about yet is per-instance vertex painting, which would typically be pretty critical for your example of blending damage over a brick wall at run time. I can only assume that’s going to be implemented since it’s pretty critical to texture blending workflows, but I that would probably be a good question to put to Epic for their upcoming live streams, to be honest