As I get Steve's point, he has a one well designed kitchen housing all necessary pods so that he can conveniently use them, no matter what he is cooking now. The same he says about his interface - it's just as convenient for any task he might do. In other words - he feels comfortable with his kitchen layout and feel no need of having separate kitchens for separate meals, as you propose.
Where will the page overview go in future. Paragraph Styles? Some future HTML features(?). All cluttered into the existing interface?
I guess you didn't grasp the property bar idea well. Do you? It's like tgose drawers in your kitchen. At one time you have only one opened. The one you are working with. With property bar concept they are even automatic. You select a tool, and correct drawer will open while all others will close for you. The capacity of drawers is thus irrelevant.