Read my posts this thread (and others on the same subject) and you'll see me agreeing with you there. It's a great little product, but NOT the return of Roland's MOTL and TOTL philosophy.
The small screen is simply a function of cost and form factor. Last Roland arranger module (RA800?) had no sequencer, either. One assumes with modules (even module versions of synth WS's rarely have the full functionality of their keyboard cousins) that one does the work in advance with a computer (or a keyboard sequencer if you MUST!) and you simply import the work.
Somebody HAS made one... Ketron. Costs a fortune. I'd rather save my money and get this than have to pay $3000+ just for a half assed sequencer. This, a little sampler module or a laptop running some VSTi's (Roland finally have multiple Drum Channels so the sequencer or arranger can send correct notes to a looper despite transposition at the sender end) and you have much of the functionality of a Ketron module at a fraction of the price...
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An arranger is just a tool. What matters is what you build with it..!