If you hide every element in the theme adjuster, and enable "show fx inserts in tcp", the fx list doesn't show up until you've zoomed vertically a lot. You can't save space this way if you want to maximise fx visibility over everything else, the zoom% required is the exact same as if the tcp elements were still there.
I think the theme adjuster has a lot of potential to let people cater their ui to their own weird workflows without a lot of technical knowledge. So I think it's something to look at even if it is niche.