I am all in for a revised list but it is a delicate matter. It is easy to add new tags, but very hard to delete them.
We have already a lot tags currently, while some are very special others are too loose.
That could be improved.
We also have descriptions (filter) and quantifiers (dual) mixed, but I think that is ok.

As Lugia says the problem is to go through all the modules. While I will not change data that is locked by manufacturers I am fine to remove the locks when manufacturers are unresponsive or even out of business.

I think for every new function tag added an old one should be refined/renamed/merged/deleted so we don't end with a frightening list of technical terms.
E.G. combine Expression and Controller, find a better name for Clock Modulator etc.
The function list must stay "noob" friendly, it was intended to give beginners a quick overview what's available. That won't work with a hundred entries.

Btw. here is the ModularGrid function tag cloud which exists forever but I never found a place to post it.
https://www.modulargrid.net/e/tags/cloud

Beep, Bopp, Bleep: info@modulargrid.net