The Old Loading Screen, in my opinion is what gave VRChat that charm from back in the ages of 2017-2019, it's what gave VRChat that vibe and excitement when loading into a world!
To me the old UI and SFX also gave VRChat more of a "Lets explore and travel" type vibe to me and mostly everyone, personally I think the new QM and MM look a tad bit cluttered and boring.
The MM feels sometimes like a mess to go through compared to the original menu. Perhaps maybe a mix between old and new maybe better in terms of design and feel.
I can understand the task of remaking a new QM and MM maybe a bit of a stretch but I think it'd be a nice thing for VRChat and in terms of giving the game added "life" that it once had before the changes.
All of this would most defiantly give VRChat more of an alive feeling rather than what we have now.