Im actually surprised people are still using those, with the ability to show classes in the content browser or create custom categories I only very rarely use that menu. I actually think the modes menu is in dire need of an overhaul and its a shame that with the focus on the VR menu it wasnt even considered to make a better one for both uses.
I would much rather see painting/sculpting become a tool alongside translation tools and be more rather than using more modes which limit people to a small set of tools. Take the VR translation tools which allow you to move, scale and rotate easily without having to move between a specific context explicitly, obviously specific contexts can be useful but it can limit the flow of the UX.