We need Edge and Face Groups Sets

I'd say that because we already have the ability to create attributes, which can already store data in any of the domains (edge, vertex, face, face corner). What we actually need is to discard vertex groups, colour attributes, shape keys, and uv maps, and just have a single attributes category.

We should also do away with weight paint and vertex paint modes, and replace them with a single attribute paint mode.

It's so convoluted at the moment that it's limiting what blender can do. For example, you can't paint attributes at all, can't use attributes in all modifiers (just discovered you can use them in the bevel modifier now), can't see attributes without setting up a geometry node network (unless this is now possible?)

From what I understand, attributes are intended to eventually fill this role.

great presentation and a feature that would be sooooo good to have

This is already possible with boolean attributes. Visualization features should be improved, and there could be some more convenient editing functions, but the basic feature is already here.