Many at the moment see LR as a cheap alternative to PS and wish for it to remain that way.
That may very well be true, I don't know. I tend to look at Lr for what I believe it was intended to be...A tool for photographers to edit images/convert from RAW, and an asset management program. Personally I think it does both of those very well as is, in ways...much better than Ps ever did. That may not be technically true (better than Ps), but it is certainly geared toward those things that a PHOTOGRAPHER wants to do with their images. Ps on the other hand, covers a very wide gamut of image creation and/or manipulation. I think the balance you spoke of is just that, the line between actual photography vs. electronically created art. While Ps will do either, Lr focuses on the photography end of things.
While I use Ps from time to time, those needs are reduced to something like stitching images, or removing a distracting highway sign in an otherwise very nice image. Things that step outside the normal bounds of "photography", at least in my opinion. Sure there are tweaks I'd love to see, both on the asset management side as well as the development side. I don't need layers in Lr however, while I understand that some do. The edits in Lr are already not destructive, which is part of why layers came into existence isn't it? (perhaps I'm wrong about that). I recently got the set of Nik plugins, mainly for Silver Efex. I DO like the UPoint method of selection it is much easier/faster than an adjustment brush. Again that is above and beyond the normal photograph in my opinion (much like HDR), so I'm quite comfortable either moving to Ps or some plugin to accomplish those.
Things like I've mentioned above though; tools for noise control, keyword management, EXIF data field management, etc. are things that relate specifically to what I believe the core purpose of Lr is and was supposed to be. If I have to pay a little more for those things, so be it. It is still more useful (therefore more valuable) to me than Ps will be.
***Qualify all of the above as someone that started with Lr, as opposed to a convert from Ps, etc. to an application like Lr. I'm sure that gives me a different perspective from some.