Your assessments about the Squid are correct.
It is a very unique and inspiring standalone sequencer.
Like you have noticed, it’s strengths do lie outside some of the conventional features of a full-fledged MIDI sequencer.
There is no song mode as of yet. Pushing a song forward is done live through the use of manually changing sets of patterns, which is done by stacking many patterns as a “Set” onto a single pad.
The Squid is still alive. It’s still being supported through this forum and the technical support area for more serious issues. I am here to collect feature suggestions and forward them to the development personnel who are responsible for updates and bug fixes.
The reality is that the development team is collecting and compiling feature/improvement suggestions but has not made any official public announcement of a next update.
I understand that that is frustrating for this users who, like you, wish for the particular features listed above. At the moment, it is a product that does what it currently does and for many, including myself, the unique features, when really understood, are powerful and inspiring in a way that is incredibly rare in a standalone, non-eurorack, MIDI sequencer.
Modern alternatives to an MC-80 would be perhaps a Squarp Pyramid which has song mode if I’m not mistaken - or a Yamaha QY series sequencer. But they don’t have the interactive nature of the Squid.