Graphics are absolutely wonderful, in contrast, when they are able to stick to a domain abstraction, which is why we have a notion of application software at all. I have, in fact, aimed towards discovering what a "Pong synthesizer" would look like, so I have the domain knowledge to know that it does tend to lead to the digital logic breakdown if you aim to surface every possibility as a configurable patch point. As a result I started looking more deeply into software modularity ideas and rediscovered hierarchical structures(Unix, IP addressing, etc.) as the model to follow. I'm gradually incorporating those ideas into a functioning game engine, i.e. I'm shipping the game first and building the engine as I find time, and I do have designs for making a higher level editor of this sort at some point.
However, I also intend to have obvious cutoff points. There are certain things that are powerful about visual systems, but pressuring them to expose everything at the top level is more obscuring than illuminating. So my strategy is to instead have editors that compile down to the formats of the modular lower-level system, smoothing the "ladder of abstraction" and allowing people to work at the abstraction level that suits them.